Ocean shipping shrinks as pandemic pummels retailers

LONDON/LOS ANGELES/MADRID (Reuters) - The $1 trillion(790.20 billion pounds) container shipping industry is in a slowdown. Literally.Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists. Many are also cutting down the number of voyages and providing short-term storage for clients as the industry,..