"Sea-Intelligence: We are at the peak impact of the pandemic in terms of blank sailing"

That said the fear is the recovery will be be 'L' shaped even though the shipping companies have moved very fast to reduce capacity and have dug deep into the "go-slo" bag of tricks to keep ships from idling around waiting for cargo.

From OffshoreEnergy/World Maritime News:

Danish consultancy Sea-Intelligence believes that the container shipping market has reached the peak impact of the pandemic in terms of blank sailings.

Voiding of sailings has been a dominating technique adopted by liners to adapt to the drop in demand caused by the COVID-19 pandemic, to cut costs as well as to prevent a catastrophic drop in freight rate levels.

Sea-Intelligence Sunday Spotlight – Issue 460

Data from Sea-Intelligence shows that Asia-North Europe trade lane reached 38% of canceled capacity last week. The consultancy anticipates the other deep-sea trades will also reach peak impact with, for example the Mediterranean to North America East Coast having 33% blank capacity in week 19 and Asia to East Coast South America seeing a staggering 59% capacity removal in week 20....

....MORE

The logistics of blank sailings get a bit tricky, with containers ending up where you don't want them, among other operational (not to mention financial) considerations.

You may have seen this story at The LoadStar (here via gCaptain) back in early March:
MSC Sending World’s Biggest Containerships to U.S. to Pick Up Empty Boxes