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How COVID-19 pandemic affect global trade shipping?

  • Global Sea shipping cost under Covid:  2019 $3500——>2021 $15000, 5 times of the normal shipping cost.
  • Crowded Sea Ports with containers
  • Not enough of stock on the shelf
  • Delayed delivery time

On the coast of Los Angeles, more than 20 container ships full of exercise bikes, electronics and other popular imported products have been berthed for up to two weeks. In Kansas City, farmers are trying to get soybeans into the hands of Asian buyers. In China, furniture to be shipped to North America is piled on the factory floor.

Globally, the new crown virSeus pandemic has had an unusually serious impact on trade, leading to rising cargo transportation costs and bringing new challenges to the recovery of the global economy. The new coronavirus has disrupted the careful operation of transporting goods from one continent to another.

All major transportation channels are blocked at the borders of various countries, and the delivery cycle of the supply chain is delayed by up to 75% from before the epidemic.

The most severely affected is the maritime industry, which accounts for 90% of the total global trade and transportation. Once a suspected case appears on the ship, the ship may face up to 14 days of quarantine. In today’s increasingly large-scale ship equipment, if one of the world’s largest container ships is quarantined, it means that at least 20,000 containers will need to be delivered two weeks later. The network connecting with ports is also facing a slowdown: about 12% of ports report delays (less than 24 hours) or severe delays (greater than 24 hours) in cross-border road transport

 

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