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With combined full-year losses approaching $1bn in the ‘best case scenario’ for the container shipping industry, lines are in survival mode
While the impact of the coronavirus pandemic will be felt across the industry, some will be better able than others to ride out the storm
This week’s podcast homes in on the container market and the impact of the coronavirus pandemic. The Lloyd’s List box team assess which of the major carriers are best and worst prepared, as a precursor to this month’s Lloyd’s List magazine. Joining the conversation is Sea-Intelligence’s Lars Jensen, who offers a view of what the industry may look like this time next year and beyond.
If carriers resort to chasing market share in the wake of the coronavirus crisis, they face losing more than $23bn in 2020
This worst-case scenario would be devastating for the industry, as the combined operating profits of the top 12 carriers during the past eight years was $20.9bn
While the South Korean government pouring cash into HMM is deemed as a market distortion by some competitors, its alliance members may well appreciate the results the money has brought
Weak macroeconomic outlook will hit demand for container transport for the remainder of the year, says S&P
The main east-west trade lanes may have seen the worst of capacity reductions, but other trades will be slower to peak and recover
Even with a slowdown in deliveries, a frozen demo market and backed-up scrubber retrofits are pushing up idle fleet capacity
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