With Beijing reporting only sporadic domestic transmission of the coronavirus since March, workers have been allowed to return to posts, factories are restarting and ports are rushing to clear a backlog of cargoes.
China’s container processing volumes fell 10.6% in the first two months of 2020 compared to the year before, while exports dropped 17.2%. The export slump could drag on throughout 2020, said Julian Evans-Pritchard, senior China Economist at Capital Economics, estimating China’s second-quarter exports could contract as much as 30% year-on-year.Container vessel utilization rates from Shanghai to north America and Europe were at 85% last week, down by 10 percentage points from a week earlier, data tracked by Shanghai Shipping Exchange showed.
Daily container handling volumes at China’s biggest port in Shanghai last week hit 110,000 TEU, about 90% of pre-virus levels, and other ports are also trying to rush through shipments to overseas clients before more stringent movement restrictions kick in.
Get ready South Africans:
They are just in a hurry and I wonder why,and there are findings in Hong Kong where by Pet Cat is tested positive for Corona viris, check their exports are dropping,but let them try
Sup with these people What are they upto
This is wakeup call to evry country to start producing enough locally and stop being independent on China cheap labor.... and the working conditions of Chinese are so bad...... the Chinese government and the world exploite this poor people....
Reporting at 03:56 am.. anilali neh? I hope they pay you good money. You're doing amazing!
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