Shipping lines that move the vast majority of the world’s manufactured goods have canceled more than a quarter of all sailings on Asia-to-Europe and trans-Pacific lanes, the world’s biggest trade routes, since the beginning of March, according to maritime data providers. Copenhagen-based research group SeaIntelligence Consulting says the cancellations equate to the withdrawal of more than 4 million containers of capacity and that carriers have continued to drop departures scheduled for the third quarter, signaling expectations of continued weak demand by major Western importers. Created with Highcharts 8.1.0Canceled SailingsContainers of capacity withdrawn by shipping lines so far this yearSource: SeaIntellgence ConsultingNote: Chart shows accumulated withdrawn capacity, based on weekly data. Capacity is measured in 20-foot containers. Created with Highcharts 8.1.0.million22-Feb29-Feb7-Mar14-Mar21-Mar28-Mar4-Apr11-Apr18-Apr25-Apr2-May9-May16-May23-May30-May6-Jun0.00.51.01.52.02.53.03.54.04.5 “Fears of a virus resurgence means retailers will bring in only what they know they can sell,” said Lars Jensen, ” chief executive of SeaIntelligence. “There is a muted […]