Shipping lines may lose $1.7bn to Coronavirus – Report

A Copenhagen-based analysis company, Sea-Intelligence, has predicted that international shipping lines may lose $1.7bn in revenue following the impact of coronavirus outbreak on the international shipping sector.

The research agency also suggested that Maersk Line could face the worst revenue downfall from COVID-19 since China represents 30 per cent of its annual shipping volume.

The firm noted that the impact of the coronavirus outbreak on the shipping industry had continued to increase in scope, with accompanying ripple effects.

Sea-Intelligence, in its weekly report, stated that in the 10-week-period, comprising the Chinese New Year and the ongoing coronavirus outbreak, the shipping industry was faced with a downfall of some 1.7 million twenty-foot equivalent unit of containers, estimated at $1.7bn.