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Online Discussion: Tracking new emerging diseases and the next pandemic; Coronavirus Pandemic Discussion Forum.

International trade disruptions

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EdwinSm, View Drop Down
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    Posted: February 18 2020 at 2:28am
The shipping industry is a good place to look to see what sort oi economic problems might develop 

Originally posted by gCaptain gCaptain wrote:

The unprecedented gyrations caused by the virus matter because 90% of all trade moves by sea and China has grown into the maritime industry’s main source of cargoes.

and a bit more....

Quote On top of that, shippers of bulk commodities like coal and iron ore have been battered as the virus delayed the resumption of demand after the typically slow China Lunar New Year period. Day rates for giant freighters to move the two cargoes are earning less than $2,500 a day — a fraction of what they need even to pay their crew.

“You obviously have lost demand that it’s difficult to recapture,” said Frode Morkedal managing director of equity research at Clarksons Platou Securities AS, an investment banking unit of the world’s biggest shipbroker. “You can’t discharge your ship, you can’t load as fast as you want, so it’s impacting the global supply chain.”

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