The coronavirus scare has not just brought perils to health but also brought a major worldwide economic slump. The supply chain has been disrupted which also caused a slow and downward curve to businesses globally.
Covid-19 now currently exceeds a death toll that totals a staggering 3,000 worldwide and has affected over 75,000 people across the globe is enough stats to treat this of pandemic state.
What is Covid-19?
Covid-19 (Coronavirus Disease 2019) is a new coronavirus strain that is said to be much worse or deadlier than flu. It has an incubation period that spans 2 to 14 days which is enough to get someone infected and spread the disease without being aware that they are sick with the virus.
This virus which looks like a halo or crown with its spiked rings belongs to the Coronaviridae family. It’s in the same family tree as MERS and SARS but has already claimed 3,000 lives in just three months.
With the rate it’s going, you could be carrying and transmitting Covid-19 without even the slightest idea that you are a carrier.
Many people who are infected are asymptomatic or may not show symptoms of the disease. With this scenario, an outbreak of pandemic proportions could happen. This unknown and novel coronavirus threat unravels potential further unknowns – which is terrifying indeed.
The United States government has been very quick in response to slow down or completely halt the spread of coronavirus. They are quarantining people who have high risks of exposure to the virus.
Local health authorities and hospitals are in close coordination with the Centers for Disease Control and Prevention for the diagnosis, testing, treatment, and monitoring of patients. Even the military is now actively involved in stopping this global medical emergency from spreading in the country.
Economic Impact – Shipping Industries Slowed Down By Coronavirus Scare
Every single historic event of this humongous proportion can impact world economies instantly. The supply chain has been chaotic for the past three months.
There has been an increased demand for surgical masks, disinfectant alcohol and wipes, hand sanitizers, and the like. However, shipping has been enormously affected by the novel coronavirus.
Reportedly, according to the United Nations Conference on Trade and Development, around 7 of the 10 world’s biggest container ports are based in China.
This is together with the mega ports found in South Korea and Singapore. They are now trying to reduce the number of ocean freight or sea vessels to deter or prevent the spread of coronavirus with cargo shipping.
There is a closure or limit set at this point that disrupts the global supply chains. In effect, there will also be a decrease in demand for container shipping through sea freight. This includes basic consumer goods or staples and cars. The lockdown in China seems to have paralyzed the movement of supply and demand.
Yes, it’s not just cargo shipping by the sea that has been affected, air freight and all forms of freight forwarding services have been disrupted. Inbound and outbound operations have been affected. There was a sizeable volume of business closures recently which has affected shipping in general.
Amazon and Other Tech and Ecommerce Giants Collaborate to Combat Covid-19
Many companies involved in freight or shipping, as well as e-commerce or tech giants, have come together to collaborate for a good cause. In times of global crisis, even competitors are able to set aside everything to work together.
One of the e-commerce Tech giants, Amazon, has also convened with the World Health Organization in the effort to stop or take down listings that claim to be a cure or treatment for coronavirus.
According to CNBC, Amazon together with Facebook and Google has discussed plans on combating the spread of the virus outbreak. They all agreed in unison about fact-checking information on their sites to avoid misinformation or fake reports.
Other tech giants that attended were YouTube, Verizon, Twitter, Dropbox. Apple and Uber were invited too but were not able to make it to the meeting.
Amazon and Google, as well as other e-commerce giants, are practically trying to fight off the spread of false reports or fake news online.
There is a content gap happening online or in the virtual marketplace as shady businesses or fly-by-night entrepreneurs capitalize or profit on the coronavirus scare by posting listings on vitamins or ebooks that are said to prevent, solve, or cure the disease in a zap.
Amazon and Facebook are willing to share add space to provide factual information and stop the spread of fake reports online. Even Apple had to close retail stores in China because of the Covid-19 threat.
The Global Trade Is In Doom – Preventive Measures Are Set To Fight Coronavirus Spread
Around 90% of global trade or supply channels have been disrupted by the coronavirus threat. The trade channels which are used to transport primary or basic goods that sustain life such as medicines, food, and fuel are seeing to have a lockdown as well.
Preventive measures have been set by the International Chamber of Shipping (ICS) with the cooperation of different shipping organizations and ports to help prevent the spread of the disease and also to enable continuity in trade operations. To avoid closure of ports, ICS recommends the following precautionary and preventive measures:
- ICS recommended the implementation of exit screening in all ports. Passengers who show symptoms of the coronavirus will then be isolated from other people to prevent transmission.
- A quarantine period for 14 days has been set in place for all vessels coming from or are transiting China. Reports that disclose the health status of the crew members and passengers are to be submitted prior to berthing.
Ships are not able to call on ports just yet. In the same way, inland and air freight are on a freeze and can’t move products or raw materials. Production, as well as the export or movement of goods or commodities, has largely felt a major setback.
Transport restrictions have been put in place due to the coronavirus alert. This has been a major blow to the trading industry as it faces its biggest financial slump so far.
This health or medical pandemic has caused massive and expensive chaos to businesses worldwide. The big players may be able to thrive but the smaller ones may be facing a challenging ordeal with this Covid-19 paralyzing shipping and freight forwarding services altogether.
Are we in doom? Not likely. Businesses have faced many huge downfalls or hurdles in the past years. Economies may have waged wars against each other or with Covid-19. But Zip Logistics, as well as other players in the industry, aren’t shaken a bit.
We do care about your cargo.
This isn’t just a tagline or a catchphrase, Zip Logistics seriously does.
We move your business forward. No Covid-19 can stop that.
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