CMA CGM, the fourth largest container shipping line in the world by market share, has said cargo traffic at major Chinese ports is recovering after the congestion caused by coronavirus.
In its latest customer advisory, CMA CGM said business operations have entered the “recovery phase” as truck drivers and port workers return to work and manufacturing activities pick up.
The coronavirus outbreak has caused substantial delays at many of China’s biggest ports and subsequent ripples across the global economy.
An example of this has been the effect on the two biggest ports in the US, Los Angeles and Long Beach, which both suffered drops in traffic in January.
Credit ratings agency Fitch Ratings has also predicted a severe drop in TEU volumes across the world.