International Trade Slows Amid CORVID19 Crisis

According to a recent article published by the American Shipper, as countries around the globe fight the deadly Coronavirus, world trade is brought to its knees in an ever-slowing crawl.

The reasons for the decline in international trade is multifold

-Scheduling reliability has fallen significantly -A significant drop in demands for imports -A surge in canceled container-ship sailings -A collapse in buyer demand -Importers rush to cancel shipments -Economic uncertainty leads to cash flow retention

The long road ahead

-Continued drop in demand -Imported containers piling up at ports -Cargo arrives with no one to claim it -Canceled sailings to lead to supply-chain disruption -Carriers may reschedule sailings network

In a bleak statement from Lars Jensen, CEO of Copenhagen based SeaIntelligence Consulting, the recent occurrences are “worse than expected,” and “Staggering.” Jensen then goes on to ad, “ My view right now is that the rebound will not happen until 2021.”

To read more about what is happening in international shipping amid the Coronavirus crisis and what is known about the long road ahead : https://www.fr8wav.es/?p=258953

For more information involving importing into the United States please contact us via email at info@tradelogicintl.com