Container equipment shortage exacerbated by COVID-19 pandemic stresses upper-Midwest soybean exporter trying to fill his springtime customer orders to Asia.
The global logistics giant said its Q1 profits among its five business divisions suffered from the coronavirus upheaval.
WTO expects global trade to sink by at least 13% this year; oil demand are down 50% year-on-year; economists expect 25% decline in U.S. GDP in Q2.
Third-party logistics providers engaged in international trade are facing the difficult decision of whether to thin staff or even close altogether in the face of a prolonged economic downturn caused by the coronavirus pandemic.
Members of the Washington, D.C.-based National Customs Brokers and Forwarders Association of America interviewed by American Shipper this week generally praised CBP for permitting the flow of legitimate trade across the continent.
