Covid-19 Bulletin

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

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.

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

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

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

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

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

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

The OECD in its latest Economic Outlook reveals the projected impact the COVID-19 pandemic will have on global GDP in 2020

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