In the first quarter of 2020, US ports are expecting cargo volumes to drop by 20 percent due to the impact of the coronavirus outbreak.
In a statement, Chris Connor, chief executive officer and president of the American Association of Port Authorities (APAA), commented: “The overall economic impact of this type of crisis can easily run into the tens of billions of dollars. Due to the coronavirus outbreak, cargo volumes at many US ports during the first quarter of 2020 may be down by 20% or more compared to 2019.”
Connor added: “Things will rebound eventually, and indeed we’re hearing news about factories that are coming back on-line in China, and ports there ramping back up to move the cargo. At the same time, supply chain managers around the world are working tirelessly to keep cargo moving to ensure that the goods we need are available when and where we need them,”