The Corona effect impacts European ports five weeks late

Ships take four to five weeks to complete the journey from Asia to Europe, which means European ports need five weeks to feel the impact of the Corona virus.

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The Corona virus pandemic has hit Port Rotterdam sharply, reducing 9.3% of production in the first quarter compared to the same period last year.

An unexpected result when compared with statistics of the Port of Anwerp, which was considered to have been affected by the Covid-19 crisis. Antwerp saw a 4% growth in total cargo volume for the first quarter.

The Port of Netherlands handled a total of 112.4 million tons in the first quarter of 2020. For container shipping, Rotterdam reported output of 3,549,670 TEUs, down 4.7%. However, there has been an increase in container volumes for the long haul and transhipment, while the short haul has dropped by 4.5%.

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According to the port authority, the underlying cause is the European economy's slowdown in the past six months and the delay in world trade due to trade conflicts.

The impact of the Corona crisis was only apparent to a limited extent in late March when goods from China fell after a partial blockade in February, the Port of Rotterdam said. The ships take four to five weeks to complete the cruise, which means the effect in Rotterdam will be felt afterwards. Container volume from Asia is 2.8% lower than in the first quarter of 2019.

Allard Castelein, Executive Director of Rotterdam Port Authority commented, "We are facing unprecedented disruption and the Port of Rotterdam, is an important link contributing to society. The impact of a decrease in demand due to the Corona crisis will become apparent from April onwards. A 10 to 20% reduction in production compared to a very likely turbulent year will depend on the containment measures. how long will it last; and, how quickly will global production and trade capacity recover. "

On the other hand, container volume is the main reason for the overall output growth at Antwerp port. "Container volumes offset the decline in other goods such as ambulances and other vehicles," the port authority said.

With a growth of 9.5% in TEU units (3.02 million TEUs), the container shipping industry remains the largest segment in Belgian ports. There is a significant increase in the number of pharmaceuticals and goods from e-commerce, and there is a growing demand for food that can be stored for a long time. Except for a slight decrease in goods from the Far East (down 2.2%), all trading areas experienced strong growth.

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Antwerp Port CEO Jacques Vandermeiren - said, "Thanks to its global connectivity and trade diversity, the Port of Antwerp is less dependent on specific markets. Huge reserves can serve as a stepping stone to the economy, which will allow for a faster reboot and recovery of consumption in Belgium and part of Europe.

Phaata (Source Container-News)

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