Coronavirus update: Imports and Exports might be affected

By: Magno International

January 30, 2020

Supply Chain disruption ahead

 

The Coronavirus Pneumonia has expanded quickly in Wuhan and nearby cities in China, many locations overseas have confirmed cases. As of today, more than 8,000 people have been diagnosed with the virus, surpassing those infected with SARS during the 2002-2003 epidemic. Chinese health authorities have announced an extension of the Spring Festival holiday to keep people at home to contain the ongoing coronavirus epidemic.


We were advised that carriers have suspended both flights and trucking transportation into and out of the Wuhan province. A large number of airlines has notified Magno International that they are extending the Chinese New Year holidays, and will resume operations on February 10th. Customs operations in Shanghai will also go back to a regular schedule on February 10th.


The uncertainty will continue as to how the Coronavirus will impact supply chains around the world. Many international manufacturers have already announced that they are bracing for supply chain disruption.
Many factories continue to shut down for an extended period for the Lunar New Year, namely in Wuhan, the epicenter of the outbreak, a major manufacturing hub for the automotive, pharmaceutical, and retail industry.


Our team will continue to monitor the situation and are available for advice and consultation to minimize any supply chain disruption your business may be facing at this time. Reach out if we can be of assistance and check back for more updates.

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