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Overcapacity in container shipping has two simple causes: not enough demand or too much supply.

But like the voiceover intro to the 1980s TV programme Hart to Hart: “when those two met, it was murder!”

The early signs are that irrespective of the impact of the tariff war, demand is already on the ebb – Container Trade Statistics’ February report came out late last week and would appear to indicate increasingly lean times for carriers.

Stat-caveat

CTS publishes on a one-month lag, but it’s ...

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