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Transpacific container demand to rise in Q3: Sea-Intelligence

Photo: Alexander Kliem - Pixabay Alexander Kliem - Pixabay.jpg
Demand on the transpacific container shipping trade is expected to rise in the third quarter, according to analyst Sea-Intelligence.

Sea-Intelligence data has shown a smaller decline in container imports in North America in June compared to previous months.

“The impact of the (Covid-19) pandemic was at its peak in March as laden imports contracted by 17.9% year-on-year and total throughput contracted by 18.7% year-on-year,” said Alan Murphy, ceo of Sea-Intelligence.

In May, North American laden imports contracted one again, this time by a slightly lower percentage than in March. In June, however, there is a break in the trend, with both metrics of handled volumes recording a considerably lower percentage reduction. Laden import volumes contracted by ‘only’ 7.3% year-on-year, while total handled volumes contracted by 9.8% year-on-year.

“Given these volume developments, it appears as if the transpacific trade is over the coronavirus hump, and perhaps is the indication which prompted the carriers to increase capacity in Q3, which, for Asia-North America West Coast stands at 13.1% year-on-year and 16.6% year-on-year on Asia-North America East Coast. This is the strongest capacity growth in a decade,” Murphy said.

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