Shipping container trade could go down this year and it will be the largest decline for over 35 years
The well known Clarksons Research has published updated information on the potential shipping downside brought by the spread of the coronavirus, warning seaborne trade this year could go on a declining scale that we never seen for almost 35 years.
Steve Gordon, the managing director of Clarkson Research said that the global economic impact deepens, and their estimates suggest that seaborne trade may contracy by 5% through 2020, the biggest decline since 1980’s.
Clarkson also compared with the situation during the financial crisis, suggesting that the Great Loxckdown, will have a deep impact around the world and will increase the initial impact for shipping and a sharper comeback compared with the following months of the collape of Lehman brothers in 2008.
Clarkson said that that this time we might recover faster because we already learned our lesson last time, but what lesson will we learn this time??
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