![]() For example, in June 2020, the three largest container shipping alliances (THE Alliance, 2M Alliance, and Ocean Alliance) announced their intent to cancel 126 scheduled sailings between Asia and North America through August 2020, and another 94 sailings between Asia and Europe. This, in turn, permitted shipping lines to lower costs and mitigate a downward pressure on freight rates due to overcapacity. merchandise trade in the first half of 2020, coupled with a slowdown in manufacturing in China, led container shipping firms to cancel scheduled sailings (called “blank sailings”) and consolidate shipping routes to focus service on major ports in the first half of 2020. ports) rose 3.5 percent year-over-year in the second half of 2020. exports of port services (which relate to the purchase of goods and services by foreign vessels arriving at U.S. goods imports by foreign maritime vessels) increased by 16.5 percent compared to the same period in 2019. imports of maritime freight transport services (which relate to the transport of U.S. In the second half of 2020, the value of U.S. imports of maritime freight services in the third and fourth quarters of 2020 largely was due to a sharp rise in trade with Asia, especially China. merchandise trade data indicate that the increase in U.S. merchandise imports in the second half of 2020 stimulated a rise in imports of associated maritime shipping and port services. The notable increase in the volume of U.S. Compared to the same period in 2019, containerized imports rose 9.5 percent, by volume, in the second half of 2020, and year-over-year grew 16.4 percent in the fourth quarter. maritime container imports declined 7.0 percent, by volume, compared to the same period in 2019, while in the second half of 2020 there was a large increase in container imports. The disruptions in maritime shipping related to the COVID-19 pandemic and their effects on merchandise imports can be divided into two distinct halves. ![]() This chapter is divided into two parts: the first part discusses the nature of shipping disruptions during the pandemic, while the second part examines the above-mentioned effects on freight rates, shipping modes, and arrival times of U.S. ![]() Combined with COVID-19 related changes in demand, the disruptions increased volatility in maritime and air freight rates across regions and caused significant delays in the delivery of U.S. These disruptions were particularly profound for U.S. Beginning in early 2020, the COVID-19 pandemic disrupted maritime shipping and air freight services, leading to canceled sailings and flights, port delays, and container shortages. Maritime and air freight transport provide the essential transportation services that enable global merchandise trade, including U.S. Merchandise Imports COVID-19 Disruptions in Maritime Shipping and Air Freight The Impact of the COVID-19 Pandemic on Freight Transportation Services and U.S.
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