Asia-Europe

The novel coronavirus (COVID-19) pandemic will lead to a contraction in the shipping container fleet and keep prices and lease rates under pressure in 2020, according to analyst Drewry.

The container shipping sector has now reached the peak impact of the COVID-19 in terms of blanked sailings according to analyst Sea Intelligence.

The container volume of China’s eight major ports declined 4.4% for the past week, which is the first weekly decline since the middle of February this year.

The impact of the novel coronavirus (COVID-19) could cause main carriers to collectively lose a staggering $23bn in 2020 under a “worst case” scenario, according to analyst Sea-Intelligence.

The number of new blank sailings of container shipping has started to taper off amid the impact of the coronavirus, a sign that carriers can expect demand ramping up back to normal levels over the next few weeks, according to analyst Sea...

Whilst the outbreak of the coronavirus (COVID-19) continues to have an impact on container shipping, the fallout is slowing down, according to analyst Sea-Intelligence.

Container lines are rolling out surcharges on backhaul routes to Asia as blanked sailings from China on mainline trades due to the impact of the coronavirus putting the squeeze on capacity for imports into the region.