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Tag Archives: Economic outlook shipping

Ocean shipping shrinks as pandemic pummels retailers

A container ship is seen leaving Southampton docks . Tug boat

REUTERS, JUNE 5, 2020 LONDON/LOS ANGELES/MADRID – The $1 trillion container shipping industry is in a slowdown. Literally. Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists. Many are also cutting down the number …

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