As the COVID-19 coronavirus spreads to more countries and wreaks havoc on financial markets around the world, it's also roiling global supply chains, air travel, logistics, and virtually every sector of the transportation economy.
Nearly everyone on the team has written about the effects of the novel virus on their beats, and today seems like an apt time to highlight those specific effects.
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Let's dive in:
Uber drivers are on the front lines against the spread of the disease. In conversations with Business Insider, many said they've begun to take precautions like disinfecting their vehicles and avoiding airport trips. The company, meanwhile, hasn't said anything to them about how its contingency planning.
Airlines, meanwhile, have drastically cut service to places beyond China, where the virus outbreak began. Here's a running list of all the cancellations, which so far includes Japan, South Korea, and Singapore
Many carriers are also turning hospital-grade disinfectants to sterilize planes to stave off the virus.
Here's what you need to know about changing or cancelling flights and getting refunds as the virus continues to spread.
Supply chains and factories are being thrown into disarray as many workers stay home in China. Moody's, the credit-rating agency, slashed its 2020 outlook for global auto sales because of the virus, and companies like Tesla are seeing their stocks fall more than benchmark indexes as Chinese factories hit the skids.
The Geneva International Motor Show has also been cancelled.
In shipping, the virus is likely to have a "disastrous" effect and volumes are set to plunge. UPS and FedEx, two of the world's largest shipping companies, will likely see 70% less revenue from Asia, UBS analysts estimated this week.
Cruise ships are getting hit too, given that the boats are natural places for infections to spread (like norovirus, the common cruising ailment.) All of the largest lines expect their revenues to be hit. Mark Matousek has the company-specific breakdown here.
Axel Springer, Insider Inc.'s parent company, is an investor in Uber.
