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Container shipping industry hard hit by US lockdown

12 June 2020

The coronavirus pandemic has shutdown much of the US economy for months and even as parts of it reopen, the data is beginning to reveal the extent of the damage that has been done and a slow recovery is taking a tentative shape.

Container market grows a modest 0.2% y/y in 2023 as the fleet swells

07 February 2024

In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%. Container market growth has lagged behind overall economic development significantly, as the world economy has grown 10% since 2019.

Supply/demand balance at 2019 level as container volumes fall 4.6% y/y

13 October 2022

Since July 2020, the container market has benefitted from a surge in consumption of goods compared to pre-COVID levels, and head-haul and regional trade volumes have followed. Compared to the same period of 2019, container volumes in the second half of 2020 were up 5.7% while full year 2021 volumes were 9.0% higher. Volumes in the first half of 2022 were up 8.3%, also compared with H1 2019. Despite a growing fleet, capacity supply was unable to keep up as port congestion absorbed as much as 14% of the fleet, data from Sea-Intelligence shows.

Container fleet growth up 11.6% from June 2019, catching up with transport demand

18 August 2022

Initially, the COVID-19 pandemic and mobility restrictions across the world led to much lower transport demand in the container sector. In the 3rd quarter of 2020, however, demand jumped as consumers converted spending on services to higher spending on goods. Freight and time charter rates have since reached historically high levels as congestion has increased the strain on supply. Now, the size of the container fleet has, however, caught up with transport demand.