Coronavirus Continues to Disrupt Trade, Port Congestion Fees to Follow
International trade has and will continue to experience massive disruptions due to the coronavirus epidemic. As previously reported, most of the major air and steamship lines have suspended cargo services to and from China, with some not resuming until April 1, 2020.
We are also experiencing a remarked increase in port congestion fees at several Chinese terminals. For example, ocean carriers ZIM, COSCO, and YML have all reported a shortage of reefer containers in Shanghai, Xingang, and Ningbo and, subsequently, announced port congestion fees starting at $1,000 USD/unit.
China also ended its government-mandated extended Lunar New Year in many parts of the country today, allowing businesses to reopen and employees to return to work. Even as such, many businesses are choosing to keep their offices closed at this time.
At the time of this writing, there are 40,653 confirmed cases of coronavirus claiming a total of 910 lives.
Trans-Border will continue to monitor the situation and keep you informed of any new developments. If you have any questions, please reach out at firstname.lastname@example.org or (800) 493-9444.