From The LoadStar:
Carriers could find the cost of blanked sailings adding up to $23 billion
The container shipping industry could lose as much as $23bn this year from reduced demand in the wake of the coronavirus pandemic.....MORE
Demand for unitised shipping services is set to nosedive as a result of the economic devastation wrought by large swathes of the world forced into social lockdowns.
Research today from liner analyst SeaIntelligence Consulting reports that the best carriers can hope for this year would be a 10% decline in container volumes, compared with 2019.
SeaIntelligence Consulting chief executive Alan Murphy added: “In this case, their profits would decline by $6bn, compared with 2019, and cause the main carriers combined to lose $800m in 2020.
“In the worst case, carriers will see freight rates decline to the same degree experienced during the financial crisis in 2009. In this case, the main carriers will collectively lose a staggering $23bn.”....
