Coronavirus “could cost liner shipping 17M TEU”

According to Sea-Intelligence, shipping lines face declining spot rates, and they can either increase blank sailings to stabilise rates or capitalise on higher rates despite declines.

The global container market grew by 1.5% to 173.5 million TEU in 2023, but without COVID-19, it would have reached 198.1 million TEU.

The average delay for LATE vessel arrivals improved to 5.46 days, roughly the same level as pre-crisis, meaning that the increase due to the crisis has reverted.

Network overviews from major liner alliances point to continuous decline in connectivity for the Port of Hong Kong.

Profitability of liner majors in the 2023 fiscal year has nearly returned to pre-pandemic levels, despite sharp year-over-year revenue declines.

In the throes of the Red Sea crisis, schedule reliability of global liner majors is resuming a downward trend.