CONTAINER shipping lines removed 23 per cent of vessel capacity on the Asia trades between mid-January and mid-March as they made moves to downsize deployed vessels.
According to Ocean Insights (OI), carriers have responded to the coronavirus pandemic by replacing larger volume ships with smaller ones, particularly on the Asia trades, reported Seatrade Maritime News, Colchester, UK.
"This is reflected in measured vessel capacity (in TEU) across major carriers which is especially strong in the Asian trade lanes with a 23 per cent detected decrease from mid-January to mid-March," OI said.
"In comparison, the global decline is less acute with a seven per cent decrease from a peak of 16.8 million TEU capacity in mid-January to a low of 15.5 million TEU measured capacity."
Blank sailings have been a major means of managing capacity, "the OI system has detected an 'unusually high' number of blank sailings," the analyst commented. Its system counted 386 void sailing announcements that will be implemented between mid-March and the end of April.
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