Since the years of the previous recession (2008), the Spanish economy has depended, to a large extent, on the strength and drive of its exports to any part of the world. However, after the outbreak of the COVID-19 crisis, many experts suggest that the sale of products in foreign markets will experience a significant drop, especially in the second quarter of the year, despite the fact that we live in a totally globalized and interconnected economy. And although this dynamic will not happen in all economic sectors equally, nor will all markets behave equally, it is expected that, in general terms, this reduction will happen.
As an effect of this trend, some analysts point to another phenomenon that could happen and that would directly affect maritime transport: the increase in the flow of short sea shipping to the detriment of the large transoceanic movements. It is very likely that the post-pandemic period will lead to an increase in short sea shipping traffic and a significant drop in traffic, particularly from Asia. On the other hand, it is expected that, if the COVID-19 crisis is short and its impact on the industry is reduced, pre-pandemic maritime traffic may recover in 2022.
At Stock Logistic, as experts in transporting goods to any part of the world, we are aware of the transformations that will happen in the coming months in the field of transport, and in the multimodal maritime sector in particular. Changes always imply reconversion and also opportunities.
Increasing local production
This COVID-19 crisis has also highlighted the productive dependence of Western markets on Asia, especially China. The globalization of the economy has begun to lose steam due to the need for states to be self-sufficient in certain products or to do so in the nearest markets. This will probably happen, not only with products related to health, but also with others such as food, textiles, perishables or other intermediate goods.
In this context, last mile logistics, with the sophisticated robotization of collection and delivery operations, and that of short and medium distance international transport, will become more important. An effect that will mean that companies must be perfectly prepared to assume the challenges that the increase in this type of operations closely linked to e-commerce will entail.