Americas News
Outlook for Container Shipping Remains Clouded: BIMCO
The outlook for container shipping remains clouded despite a surprisingly strong performance this year, according to industry body BIMCO.
Container lines have made it through this year's troubles by lowering capacity as freight rates dropped in the depths of the crisis, Peter Sand, chief shipping analyst at BIMCO, wrote in a research note on the organisation's website Wednesday.
"Once volumes started to rise, they were ready to reap the rewards of higher rates and lower bunker costs," Sand said.
"However, even though the worst-case scenario has been avoided this year, the outlook remains clouded.
"The virus is still spreading at alarming speed, putting the recovery on hold, and once again shuttering many shops in major advanced countries."
The effects of stimulus measures in the US coming to an end may also come as a blow to shipping, Sand said.
