Latest industry related news items
COVID-19 pandemic prompts carriers to make additional capacity cuts
In addition to capacity reductions planned earlier this year, both the 2M and THE Alliance have announced major capacity cuts in the Asia - Europe trade. These will be implemented with almost immediate effect, as carriers are confronted with a sharp decline in westbound volumes.
Chinese ports lose 10.1% of their volumes in last two months
Total container volumes handled at Chinese coastal ports dropped by 10.1% in the first two months of 2020 compared to the same period in 2019, with full year volumes expected to register negative growth rates for only the second time since 1970.