The true impact of the coronavirus on global trade is becoming all too evident as ports and shipping lines release their first-half results.
The Port of Hamburg, Germany’s largest, for example, saw a 12.4% decrease in container throughput for the first six months of the year.
According to a statement, general cargo handling was 12.2% lower at 42.5 million tons, bulk cargo 11.7 % down at 18.7 million tons – and in the container handling segment, 4.1 million TEUs were moved, a 12.4% fall on the previous year.
“In the past two months a stabilisation of vessel sailings has been achieved,” said joint CEO Ingo Egloff. “With the economies in China and Europe gradually picking up, I am confident that we have reached the lowest point of the fall in seaborne cargo throughput caused by the pandemic, and will see our first noticeable recovery and improvement in the situation by the end of the year.”
