China cargo flows rapidly return to pre-coronavirus levels

Finally, some good news about the coronavirus and global supply chains: Cargo volumes and ship calls have swiftly rebounded at Chinese ports, confirming that the cogs of global trade are grinding back into motion. The caveat is that this was to be expected as Chinese port workers and truckers returned after an extended Chinese New Year (CNY) holiday. Inbound and outbound cargo delayed during the post-CNY period was already en route or contracted for transport. The question ahead — which is pivotal to U.S. transportation companies — is whether volumes will sink back again if there are manufacturing disruptions and reduced demand, or alternatively, whether volumes will increase if China pursues a stimulus program. Following is the latest data on Chinese activity from CargoMetrics, Clarksons Platou Securities and Sea-Intelligence: