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Global economy faces further harm from a second wave

The impact of the coronavirus pandemic on the global economy has been more severe than initial forecasts predicted and will result in a year-on-year decline in seaborne trade for the first time since the global financial crisis

Current economic developments will have a major impact on seaborne trade, with volumes in 2020 forecast to fall by 3% compared with 2019, representing the first year-on-year decline since 2009

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