Coronavirus Impacts Significant to Ports, Shipping, Logistics
Alexandria, VA — According to the American Association of Port Authorities (AAPA), the potential overall economic impact related to the novel coronavirus (COVID-19) outbreak could easily run into the tens of billions of dollars.
“Due to the coronavirus outbreak, cargo volumes at many U.S. ports during the first quarter of 2020 may be down by 20 percent or more compared to 2019,” said AAPA president and CEO Chris Connor in a statement.
“While the global economic impacts to the port and maritime industry from the coronavirus outbreak are significant and growing, the human impacts are our greatest concern,” he continued. “Since ports are a nation’s first line of defense against threats ranging from terrorism to pathogens, they take their role seriously about protecting the safety and well-being of their communities.
“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.”