Worst is yet to come for volumes, fuel costs a salve – S&P Global Platts Container Update, April 2020

Corp - Shipping 836 Energy - Bunker Fuel 83 Global 1204 Mode - Containerized 1300 Mode - Seaborne 1627 Theme - Rates 189

Containerized freight markets continue to face significant uncertainty regarding the outlook for demand as well as carrier capacity management as a result of the coronavirus pandemic. There’s been over 400 cancelled containerline sailings this year with more to come. S&P Global Platts report some carrier sources as stating May and June will be the worst months in terms of demand. Yet, the cancelled sailings offset lower demand which has meant container rates were stable in the past month with Asia-to-U.S. west coast rates down by just 3.2% sequentially in April versus March. The situatio...

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