News / Box carriers' bill for volumes lost to coronavirus nearing $2bn

ID 62096177 © Yiu Tung Lee | Dreamstime.com

The financial cost of the coronavirus outbreak to container lines is now approaching the $2bn mark, according to new research from SeaIntelligence Consulting.

Up to the beginning of this month, the Copenhagen-headquartered analyst estimates that the industry has lost 1.9m teu in volumes since the onset of the crisis, which dampened demand due to the widespread closure of factories in China.

“At a rough average freight rate of $1,000 per teu, this equals a revenue loss of $1.9bn for the carriers,” said ...