Cancelled capacity has so far matched the decline of global demand give or take 10% according to the Danish consultancy Sea-Intelligence the level of void sailings has now reached three times the capacity reductions for Chinese New Year.
That could change in the third quarter as lines maintain cuts to services amid rising demand. Some 4 million TEU of cancelled capacity globally has been matched by a global demand that has plummeted by 4.4 million TEU this year to date. The major east/west...