NBEOC Snapshot Highlights
- Maritime shipments from China are 22% down from the prior year and 20% of Asia-US container shipping has been canceled for May and June.
- Pre-pandemic processing was operating at 95% daily capacity; current estimates are that 43% of U.S. pork capacity is offline, which adds 215K animals to the depopulation amount each day.
- A “new normal” that involves a “socially distanced supply chain” is expected to impact productivity and throughput of companies across the board.
- Smaller carriers/owner-operators and those that rely more on the spot market are being impacted the most. This impact may come in the form of bankruptcy and reincorporation, leasing on to another carrier, temporarily parking or carriers truly calling it quits.
- The system is showing cracks and will continue to do so as long as the economy is tied to the virus.
