KSA worries about SARS effect on shipping business

One insider from the Korea Shipowners' Association said on May 8, "Although shipping world wide has been rising since the end of last year, SARS in Southeast Asian countries including China may well slow that down. Cargo transportation in Asia that represents 26% of world cargoes was expected to expand to over 27% in three years. SARS puts those predictions into question."
Finacial groups like J.P. Morgan reduced growth predictions for China's economy this year by 1% point from 7.4% to 6.4%. Goldman Sachs Group, Inc. had a bleaker outlook, saying it may dip below 6% if SARS lasts more than 6 months.
One source in the shipping industry stressed, "There hasn't been any real damage because of SARS so far. But the Chinese economy's growth has bolstered world shipping. If they suffer, we'll be hit as well."