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Chinese Ports Take Big Hit in Covid-19 Downturn
The global pandemic has caused the world’s largest ports to see a slowdown
Container traffic at China - and the world’s - largest ports continues to plummet after a big reduction in overseas orders has hit the nation’s exports, according to the China Ports and Harbours Association.
The ports affected include the world’s largest port, the Port of Shanghai, as well as other major ports such as Ningbo, Shenzhen and Guangzhou.
Other ports in China such as Qingdao, Tianjin, Xiamen and Dalian have also been badly hit with orders falling by up to 5%.
The results continue a trend already witnessed in China after ports reopened for business in February.
The drop in orders is likely to continue long into the future as the global supply chain struggles to find its feet in a global recession.
Many commentators have pointed out that economic, political and health issues will have to be resolved before the global economy can begin functioning anything like what we once regarded as normal.