Coronavirus pandemic adds a major blow to struggling shipping industry

The pandemic adds a major blow to an industry reeling from a toxic combination of geopolitical tensions, trade restrictions and natural disasters in 2019

The furious speed at which Covid-19 has spread from the most populous of all continents, Asia, to Europe and then to the US killing thousands of people is sending the global economy reeling. As country after country, in­clu­ding India, is enforcing comprehensive lockdown of life, the economic cost of which remains anybody’s guess, all sta­keholders of shipping and ports across the globe are scurrying for cover. The possibility of a repeat of lockdowns in India and elsewhere cannot be dismi­ssed at this stage. Thanks to Covid-19, maritime operators are likely to contend with a crisis bigger than they faced in