The total capacity removed from the trade lanes due to the coronavirus pandemic is 2.4 times higher than the norm in the post-Chinese New Year slack period. As of 11 April, Sea-Intelligence reports that 384 sailings have been blanked across various deepsea trades, with another 83 cancelled by carriers in the past week. Estimates indicate that the industry is facing a decline in demand of some 6.4m teu globally, as a consequence of the consumer lockdowns and restrictions now impacting half of the world’s population.
