The pandemic caused by the infectious diseases known as Corona Virus has affected the lives of thousands of people not only physically but has created chaos in the logistic industry as well. This virus has disrupted our lives in every way possible like going to work or school. Even a walk in the park is now prohibited due to the rising cases all over the world.
Now, one of the activities that have been majorly affected by this disease is trading. Shipping goods is not as easy as before due to the epidemic. This global epidemic has taken a toll on the shipping and maritime industries, not just at China’s ports (where the virus is thought to have originated), but also in ports around the world. All trade linkages, including significant import and export transactions, are on the verge of collapsing.
This blog will educate you on the impact of Covid-19 that has been done on logistic services in Pakistan.
Impact of Covid-19 on Transport Industry:
Careful Analysis after a year of the Covid-19 has proved that the most affected industry by this disease was the transport industry on the economical level. The pandemic caused the government to put restrictions on the passengers to deliver goods from different places around the world. Plus, the freedom of movement caused the transportation revenue to drop drastically. Not only that but the wages of some workers were also reduced by half and some transport companies were closed due to being bankrupt. Even after the government allowed transporting goods, the companies still had to take the necessary precautions. The transport was again good but still was lacking that good number.
Impact of Covid-19 on Sea-Freight:
During these harsh and challenging times, the Sea freight services have faced a lot of challenges. Some of their challenges have been outlined below:
Less Demand:
All the ships that were transported had to follow a set of standards of rules and also a limited amount of goods were allowed. The waiting period of the shipping was also increased due to the harsh process it had to go through opposed by the competent authorities in every country.
Closure of Ports:
Ports have been closed owing to quarantine periods in place and to safeguard the safety of workers, and other conditions have been imposed, such as the prohibition of marine vessels from entering specific nations, which required such vessels to be on the water and without a destination port.
Impact of Covid-19 on Air-Cargo Industry:
Food, mail, automotive parts, electronics, flowers, vaccines, and a variety of other critical commodities are all transported by air freight, which helps to facilitate the supply chain.
2020 proved to be the worst year for air-cargo industry during the covid-19 pandemic. In 2020, air cargo was hit harder than global trade volumes, with CTKs decreasing 10.6% year on year (yoy) while global trade volume decreased 5.3 percent.
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