Container lines could lose upwards of USD 23 billion in the corona crisis

Container shipping companies face massive billion dollar losses in 2020 if they fail to prevent a collapse in rates, projects Sea-Intelligence. More than 200 sailings have been voided.

Photo: HHM / Michael Lindner

If the container shipping lines are unable to prevent a collapse in rates, they could face a huge loss of USD 23 billion in 2020, writes analyst firm Sea-Intelligence in a new analysis.

So far, the rate level for the container shipping lines have remained at a normal level in the first quarter despite the corona virus outbreak, which has put a damper on the volume of goods that need to be transported across the globe.

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