Reklam
Reklam
Reklam
Reklam

Global container shipments set to fall 30pc in next few months

BURSTING import warehouses are putting pressure on ocean carriers to slow deliveries, which is expected to reduce container shipments 30 per cent in the next few months, says International Chamber of Shipping (ICS) chairman Esben Poulsson

27 April 2020 - 18:22

BURSTING import warehouses are putting pressure on ocean carriers to slow deliveries, which is expected to reduce container shipments 30 per cent in the next few months, says International Chamber of Shipping (ICS) chairman Esben Poulsson.

Shipments have probably fallen about 15 per cent so far this year amid the coronavirus pandemic, according to Mr Poulsson. Second-quarter declines, compared with a year ago, will depend on by how much governments reopen economies, he said.



'Inventories of goods like apparel, textiles, white goods, are full,' Mr Poulsson said. 'We are hearing of receivers of these goods asking shipping lines whether they can store these goods for a period of time or slow their ships down or basically delay taking delivery.'



The slump is a setback for shipping giants such as Cosco and Ocean Network Express (ONE), which started the year strong as healthy trade volumes allowed the industry to boost rates. That optimism has now evaporated as the virus outbreak has forced shoppers to stay home, crimping retail sales in the biggest consumer markets.



Forward bookings for shipments from Asia to North America and Europe have slowed for April and into May, according to ONE chief executive Jeremy Nixon. Shipments of products from North and Latin America, Europe and Oceania to Asia are still strong, said Mr Nixon.


WORLD SHIPPING

This news 371 hits received.