A huge impact of the Coronavirus on the maritime industry (2020)
The Coronavirus outbreak comes at one of the worst times for the shipping industry currently struggling with the additional fuel costs from the IMO 2020 regulation.
The virus itself and economic slowdown has been centred in China so far,
but global supply chains have started to feel the ramifications of the widespread Chinese shutdown.
Many of the Chinese producers of containerised goods have halted production or are producing at lower levels.
Nations heavily reliant on trade with China, such as Singapore and Japan,
have issued recession warnings but the coronavirus could also have a macroeconomic impact on advanced economies in the west.