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Container ship operators that canceled more than half their sailings to China, as coronavirus-driven restrictions froze work at its ports last month, are bracing for a second wave of disruption.
Now that China has resumed exporting, shipping companies expect thousands of shipments to be stranded at seaports as the pandemic engulfs the U.S. and Europe.
Container ships move the vast majority of manufactured goods, from medicine and food to clothing, electronics and cars. Shipping executives expect volumes to decline about 10% this year because of the spreading Covid-19 crisis, similar to the decline in the aftermath of the 2008 financial crisis.