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Tuesday, March 21, 2023

U.S. Ports Outlook Changes to Negative

A key economic outlook for the US ports sector has been revised to negative from stable due to weakened demand and persistent supply chain risk as a result of the coronavirus (COVID-19) pandemic.

Moody’s Investors Service said that its changed outlook “reflects our view that both global and US demand will suffer more than previously expected as a result of economic disruption caused by the coronavirus”.

Twenty-foot equivalent unit (TEU) throughput is Moody’s key indicator for the sector and the business said it expects “the combined effect of China’s extended Lunar New Year holiday, mandated factory closures and domestic travel restrictions will cause a 15%-20% decline in TEU throughput at US ports in the first quarter of 2020”.

Read more at Hellenic Shipping News

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