HALF THE BATTLE

摘要

As we gradually move towards successive countries coming out the lockdown, it would be a sizable understatement to say that the Coronavirus pandemic will be an economic game-changer for everyone, with a major impact on trade and ports. Given the losses of loved ones and jobs, it might seem inappropriate to be talking about the trade impacts of COVID-19, however it is very clear that the health challenges of this pandemic will only be half the battle. The pace at which COVID-19 spread illustrates how disruptions can rapidly permeate global trade and consequently port traffic flows. The coronavirus pandemic cut global trade values by 3 per cent in the first quarter of this year, according to the latest UNCTAD data and the downturn is expected to accelerate in the second quarter, with global trade projected to record a quarter-on-quarter decline of 27 per cent. As a result, supply chains have been severely disrupted with havoc also reaped in maritime passenger markets.