New corona wave could hit the container sector like the financial crisis

The escalating and severe consequences of the coronavirus outbreak in Europe and the US could potentially hit the global container sector as the financial crisis did. The burgeoning recovery in China will be hit back, analyst projects.

Photo: PR / MSC

Just as activities were slowly returning in China following the coronavirus outbreak, and container lines were getting ready to again soon be filling their ships leaving Asia, the escalating virus in Europe and the US now threatens to trigger much more dire consequences for the sector.

According to Lars Jensen, shipping analyst and CEO of Sea-Intelligence Consulting, the scenario has become even bleaker after the WHO has now characterized the coronavirus as a pandemic, and the rate of new cases in Europe as well as the US is starting to intensify for real.

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