China was at the epicentre of the Covid-19 pandemic and rapidly shutdown the country to contain the disease. This had a dramatic impact on the Chinese economy but China made progress to contain the virus. In April, VesselsValue noted that cargo miles had recovered and started to follow a similar pattern to last year. Demand declined shortly after this however, as throughout May, cargo miles were lower than levels seen at the same time last year. This decline correlated with the increase in Covid-19 cases in the US, as the impacts of the virus were felt later in the West and demand for goods lessened due to lockdowns.
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