Coronavirus Predicted to Wipe 6m TEU of Chinese Box Volumes in Q1

February 6, 2020

Every segment of the shipping industry is now choking on reduced volumes of cargoes sparked by the coronavirus in China, which has now infected around 25,000 people around the world.

On the container front, analysts at Alphaliner are warning that the coronavirus will reduce container cargo volumes at Chinese ports – including Hong Kong – by over 6m teu in the first quarter of 2020. This volume contraction is expected to reduce global container throughput growth by at least 0.7% for the full year.

“The full impact of the Chinese coronavirus outbreak on container volumes will not be fully measurable until ports announce their throughput numbers for the first quarter, but data collected on weekly container vessel calls at key Chinese ports already shows a reduction of over 20% since 20 January,” Alphaliner warned in its latest weekly report.

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Source: Splash247.com