April 30, 2020
The Coronavirus pandemic keeps affecting the entire world economy and is having many regrettable effects on international trade.
A number of key global sectors are already experiencing slowdowns – tourism, air transport and the oil sector are those visibly impacted.
Based on experts’ forecasts, a prolonged outbreak would make the unfolding economic crisis difficult to handle. Beyond being a human and social tragedy, the pandemic could amplify spillovers from decreased trade, financial outflows and commodity price declines – since global value chain hub regions including China, Europe and US have been badly struck by Covid-19.
As our team in our worldwide offices assess the level of possible disruptions and means to mitigate the impacts of our customers’ value chains, please find below an update of the situation in some of the territories we are present and some power trade lanes:
As a reminder, the Cargo Handling Corporation will be having its Annual Substation Maintenance tomorrow, May 01, 2020. Therefore, neither reception and delivery of containers nor vessel operations will be carried out. Normal activities will resume on May 02, 2020 at 07:00 a.m.
On the airfreight side, Air Mauritius has announced that it will operate a weekly cargo flight to CDG. The flights are scheduled to depart from Mauritius on Fridays, with a return planned on Saturdays.
The first flight, MK108 is expected to depart tomorrow at 08:15 p.m and with return flight MK109 scheduled on May 02, 2020.
In view of securing space on these flights, we recommend that traders urgently reach out to us with shipment details since space is presently limited.
While the government is recommending home office as much as possible, even after the end of the lockdown period, companies are still trying to adjust based on their capacities and their staff.
The garment industry is satisfied with the reopening of its stores based on the social distancing rules. However, the digital e-commerce practices, which have recently increased for most of our customers, will still play a very important role on the French local market.
This segment will henceforth be crucial for the export sector as most of the trade fairs and shows are prone to cancellation in 2020.
To get specific updates on the various regions in India, read the Velogic India Customer Advisory by clicking here.
With the extended lockdown until May 05, 2020, terminals are operating at a reduced productivity due to the shortage of labour.
- Singapore: More stringent policies have been imposed by the Singapore Government during the extension on “circuit breaker” period for Singapore until 1 June 2020.
- Malaysia: The country has extended the 3rd round of the MCO (Movement Control Order) by another 2 weeks. Originally, the MCO was supposed to be lifted by April 28. With the latest announcement, MCO is now extended to May 12, 2020.
- Turkey: The Government has enforced 3 days coronavirus curfew from April 30, 2020 (Midnight) to May 04, 2020 morning, in 31 provinces.
- Indonesia: Jakarta announced that it will extend the wide-scale social restrictions by four weeks, with the closures of non-essential workplaces and schools until May 22, 2020.
Please do not hesitate to liaise with your usual contact person at Velogic, should you have any queries regarding this announcement.