China's fast-spreading coronavirus is throwing the global container shippin...
LONDON/LOS ANGELES - China’s fast-spreading coronavirus is throwing the global container shipping trade out of sync, with lines re-routing cargoes and reducing calls to Chinese ports, setting the scene for months of delivery delays ahead, industry sources said.
China’s decision to extend its Lunar New Year holiday period until Feb. 10 has compounded logistical complications, despite its ports staying open. China is a vital link to the container sector, transporting everything from fresh food to phones and designer clothes as well as industrial parts. Disruptions to sea cargo flows have compounded an already pressured situation for shipping lines as they struggle with weaker markets and higher costs from new International Maritime Organization regulations on low sulfur fuel.
“Shippers are parking cargo at our ports, so later, perhaps when the coronavirus dies down and the level of cargo decreases, they can deploy a small ship to carry these cargo to their destination in Chinese ports,” the official said. “This is largely due to lower volumes on China. This is normal during Lunar New Year, but it seems to us that the volumes are lower than normal for this period – likely impacted by the coronavirus,” he told Reuters.
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