Analyst SeaIntelligence said that lines had cancelled just six deepsea sailings over the last week having already announced large scale cuts across the second quarter of the year. As of 20 April container lines had cancelled 435 sailings on the mainline trades equating to a 7m teu demand decline in 2020.
SeaIntel ceo Alan Murphy said the drop off in additional cancelled sailings, “Clearly shows that we have reached a plateau, where carriers are now only blanking very few additional sailings, and for the moment are satisfied that the currently announced blank sailings program is sufficient to underpin the freight rate levels.”
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