Talk about anything - International trade disruptions

International trade disruptions

Printed From: Avian Flu Talk
Category: Off Topic Forum
Forum Name: Talk about anything
Forum Description: (In other news... current events happening now)
URL: http://www.avianflutalk.com/forum_posts.asp?TID=41068
Printed Date: May 01 2024 at 9:34am

Topic: International trade disruptions

Posted By: EdwinSm,
Subject: International trade disruptions
Date Posted: February 18 2020 at 2:28am

The shipping industry is a good place to look to see what sort oi economic problems might develop

gCaptain wrote:

The unprecedented gyrations caused by the virus matter because https://business.un.org/en/entities/13" rel="nofollow - 90% of all trade moves by sea and China has grown into the maritime industry’s main source of cargoes.

and a bit more....

On top of that, shippers of bulk commodities like coal and iron ore have been battered as the virus delayed the resumption of demand after the typically slow China Lunar New Year period. Day rates for giant freighters to move the two cargoes are earning less than $2,500 a day — a fraction of what they need even to pay their crew.

“You obviously have lost demand that it’s difficult to recapture,” said Frode Morkedal managing director of equity research at Clarksons Platou Securities AS, an investment banking unit of the world’s biggest shipbroker. “You can’t discharge your ship, you can’t load as fast as you want, so it’s impacting the global supply chain.”

http://https://gcaptain.com/ships-are-skipping-china-and-its-causing-turmoil-for-trade/" rel="nofollow - Link to gCaptain