News / Carriers could find the cost of blanked sailings adding up to $23 billion

Buenos Aires Port

ID 103962975 © Danflcreativo | Dreamstime.com

By Gavin van Marle

06/04/2020

The container shipping industry could lose as much as $23bn this year from reduced demand in the wake of the coronavirus pandemic.

Demand for unitised shipping services is set to nosedive as a result of the economic devastation wrought by large swathes of the world forced into social lockdowns.

Research today from liner analyst SeaIntelligence Consulting reports that the best carriers can hope for this year would be a 10% decline in container volumes, compared with 2019.

SeaIntelligence Consulting chief executive Alan Murphy ...

Comment on this article

You must be logged in to post a comment.

Gary Ferrulli
April 06, 2020 at 4:46 pm
Dart-board economics.

Log in to Reply

Topics

Asia-North Europe blanked sailings Calculating Capacity Capacity crunch: eastbound angst CMA CGM SeaIntelligence Consulting

Most read news

Keep our news independent, by supporting The Loadstar

Spot rates on transpacific surge after news of tariff time-out

Shippers should check out the 'small print' in China-US tariff cuts

'Cargo collision' expected as transpacific capacity tightens and rates rise

Houthis declare blockade of port of Haifa – 'vessels calling will be targets'

European port congestion now at five-to-six days, and getting worse

Another CMA CGM vessel heading for Suez Canal – 'to mitigate schedule delay'

News in Brief Podcast | Week 20 | 90-day countdown, India and Pakistan

Threat to airport operations as India revokes security clearance for handler Çelebi

South America will benefit as air cargo traffic diverts from the transpacific

CMA CGM will carry on investing after 'solid' Q1, despite unclear outlook

Evri gets 'Premium' boost from merger with DHL's UK ecommerce division

Air cargo forwarders stick to spot rates – a long-term contract would be 'foolish'

Demand for transpac airfreight capacity returning – but 'it's not ecommerce-driven'

Brazil's outdated and inefficient ports the barrier to economic growth

Yang Ming chief announces rethink on ordering 'megamax' box ships