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Transpacific container demand to rise in Q3: Sea-IntelligenceTranspacific container demand to rise in Q3: Sea-Intelligence

Demand on the transpacific container shipping trade is expected to rise in the third quarter, according to analyst Sea-Intelligence.

Lee Hong Liang, Asia Correspondent

August 12, 2020

1 Min Read
Alexander Kliem - Pixabay
Photo: Alexander Kliem - Pixabay

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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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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