Maersk Line has cancelled more than 50 sailings to and from Asia due to the coronavirus outbreak.
According to the company’s recent earnings report, it has had a "very weak" start to the year as the outbreak keeps factories closed in China and decreases demand for the transport of goods.
In addition, businesses across the globe remain uncertain about how the virus will develop, making it difficult for companies to measure the overall disruption. Yesterday China recorded its lowest number of new daily infections in weeks, while South Korea reported a spike in cases.
The outbreak adds to a string of challenges facing ship operators including overcapacity, a slowing global economy, manufacturing weakness and the trade war between the United States and China. - Zoë van Rooyen