According to JOC, volumes on the Asia-Europe trade are rapidly improving and bouncing back from the lows seen in April during the height of the COVID-19 lockdowns
This is the last issue of our COVID-19 Update. We will come back soon with new formats to keep you connected with the Ports of Genoa. Container Trade Scenario Asia-Europe trade . Asia to Europe container volume in June was 1.39 million TEU, down just 3.8 p...
The Coronavirus 2019 pandemic has heavily affected cruise operations in the European Union and globally, thus the restart has to be gradual. Operators need to ensure that cruise trips do not expose passengers and staff to high health risks.
Cruise Shipping Scenario The Guidance on cruise activity’s restart in EU The "joint EMSA-ECDC (European Maritime Safety Agency - European Centre for Disease Prevention and Control) guidance on the gradual and safe resumption of operations of cruise ships in the European Union in relation to t...
Container Shipping Despite less vessel calls than before the COVID-19 pandemic started, cargo volumes are returning in some regions. Generalised lockdowns now limited, the return of vessels and the lower numbers of blank sailings continue, yet these happen at a slow pace
Shipping & Logistics Container Shipping Despite less vessel calls than before the COVID-19 pandemic started, cargo volumes are returning in some regions. Generalised lockdowns now limited, the return of vessels and the lower numbers of blank sailings continue, yet these happen at a slow pac...
China’s economy grew strongly in the second quarter, in fact after having fallen at the fastest pace on record in Q1, real GDP increased by 11.5% from the first quarter, which translates to an annualized rate of 54.6%. It was up 3.2% from a year earlier
Global Economic Trends Chinese's Economy . China, the first economy hit by the virus, is the only major economy to experience such a strong recovers in the second quarter. Most of the other large economies are projected to see significant growth in Q3 having declined sharply in the second quar...
According to Bollorè Logistics Covid-19 Market Outlook, world trade is set to plummet up to 32% in 2020. Nearly all regions will suffer double-digit declines, with exports from North America and Asia hit hardest. Trade will likely fall steeper in sectors with complex value chains, particularly electronics and automotive products
Global Trade . On the maritime side, Bollorè claims that thanks to the consolidation process of the last years, shipping lines are in a solid position to ride out the storm. The number of cancelled sailings during the three first weeks of July’20 are 49% lower than same...
According to CLIA, each day of total shutdown of cruise activities leads to a loss of 2,500 jobs in the world, each drop of one percentage point of passengers per year represents 9,100 fewer workers in the sector. Halting European cruises to the end of July will lead to 133,500 fewer jobs, corresponding to 4.81 billion of unpaid wages
The cruise industry Cruise economy and COVID-19 impact . Resume of cruise activity The cruise industry is planning to schedule initial trips in several weeks. Depending on the approval of a new government decree from the Italian Prime Minister authorising cru...
UNCTAD reports that the value of international trade in goods has declined by about 5 percent in Q1 2020 and is expected to decline further by 27 percent in Q2 2020, though the pace of contraction has slowed in May
Global Economic Trends China’s economic indicators Recently, Chinese Government released several economic indicators for the month of May: the industrial production was up as was investment in property and infrastructure. The retail sales were down and weaker than expected and overall investme...
UNCTAD reports that the value of international trade in goods has declined by about 5 percent in Q1 2020 and is expected to decline further by 27 percent in Q2 2020, though the pace of contraction has slowed in May
Global Economic Trends World trade . Assuming persisting uncertainty, UNCTAD expects a decline of around 20 per cent for the year 2020, while World Trade Organization (WTO) expects the decline between 13 and 32 percent and European Commission expects that EU27 trade will decline by 10-16 perce...
The OECD in its latest Economic Outlook reveals the projected impact the COVID-19 pandemic will have on global GDP in 2020
Global Economic Trends . When assuming there will be no second wave of infections in 2020 GDP is currently expected to be down by 6% on last year. Should we encounter a 'double-hit' scenario however, this is forecast to increase to a 7.6% drop. Italian GDP is projected to fall by 14% in 2020 before ...
According to JOC, container carriers do not expect a significant market recovery in the coming months, thus they are extending their capacity reduction programs in the third quarter
Shipping & Logistics Container Shipping . THE Alliance and 2M announced 75 sailings will be canceled through September, while industry analysts expect Ocean Alliance to reveal a new blank sailing program soon. Before the new adjustments, the three alliances had announced a total of 126 void sail...
