Liners hit badly with CoronoVirus

The world economy has been badly affected with Corona Virus having its impact on all spheres. As evident in all spheres, the cost liners are also facing their worst times with reports saying that the liners loss about 350 million dollars every week.

A report of the sea Intelligence has said that there was a shortfall of box up to 350,000 TEU per week, which calculated would come to around 350 million dollar loss. The calculation is based on an average rate of about 1,000 dollars per TEU.

IT has been reported that Liners have increased the amount of blank sailings in last many weeks after the coronavirus attack. The Sea-Intelligence says hat about 21 sailings have been blanked on the transpacific because of the viral attack, which has taken out 198,500 TEU out of action.

For Asia-Europe, it is reported that ten sailings have been blanked, which removes 151,500 TEU that brings to 54 black sailings across North Europe and Mediterranean. They also warned of capacity shortage that is likely to increase the freight rates.

Another shipping consultancy Alphaliner was also reported to have warned of reduced volumes of container cargo.
Though all these are speculations, the correct figure would be only available when the Ports declare their throughput numbers.

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