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Coronavirus: Shipping prepares for the worst but hopes for a swift bounce back

The coronavirus outbreak has paralysed markets and infected almost every aspect of the industry and in doing so has offered a stark reminder of the frailty and importance of the industry’s human element

It will take a while for shipping to get back on its feet. Rates have tumbled and will continue to do so, forecasts will have to be adjusted beyond the downward revisions we have already seen. Expect a slow period for the market as the dust settles and do not rule out further upsets

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