UPDATE: Coronavirus Damaging Supply Chains
From locked borders to blocked supply chains, the Coronavirus is having a toll on global and local economies alike.
Specifically relating to transport, imports are delayed as Chinese manufacturing operates at less than optimum capacity. Raw exports from Australia are not being received as they once were by Chinese manufacturers, leaving the transport sector under pressure to make up for lost volume. You can read an excellent article about it from Big Rigs HERE and HERE
By tracking inbound 40ft Loaded Shipping Container volumes, a Freight Waves article explains that there is not only a noticeable decline in import/export volumes in the US but also a decline in consumer demand for goods that are already at low supply. An interesting mix when it comes to freight volumes within the country. Australian and US economies are inextricably linked to China's manufacturing behemoth, so it will be an interesting period of time as the Coronavirus continues throughout the world.
UPDATE 5th March:
"A growing number of truck operators are telling us their businesses are being severely pressured and disrupted by the flow-on effects that the coronavirus is having on Australian trade and logistics," said RFNSW chief executive Simon O'Hara. - Source: BigRigs.com.au
"Either way, the knock-on effects of the coronavirus have hit local transport operators hard -
and this diminished level of trade is unsustainable, particularly for our members who are small, family-run businesses." - O'Hara Unfortunately, a lag in the supply chain of 2-3 months will occur once manufacturing starts up again which will continue to affect the transport industry for the next little while. Read more HERE