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CMA CGM sees start of rebound in China container volumes

CMA CGM sees start of rebound in China container volumes
CMA CGM says there has been an upturn in volumes from the China market after the coronavirus (COVID-19) sharply impacted shipments from the country during February.

As of last week container lines had blanked 75 sailings on the Asia – Europe and transpacific trade due to lower volumes from China, however, with the market now recovering CMA CGM said it expects to operate its normal fleet capacity by mid-March.

An extended shutdown of Chinese factories in February following Chinese New Year resulted in a 19.8% drop in volumes at China’s eight largest container ports.

“Production capacity of Chinese manufacturing plants is monitored daily and has shown signs of improvement since the end of February,” CMA CGM said in its annual results statement.

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“There has been an upturn in volumes and a major catch-up effect is expected once the health situation stabilizes, as Western countries will be seeking to rebuild their inventories,” it added.

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