World News
SIBCON: CMA CGM Sees 5.5% Global Container Trade Drop This Year
Wednesday October 7, 2020
Global container shipping volumes may drop by 5.5% overall this year, according to French boxship firm CMA CGM.
Stephane Courquin, head of CMA CGM Group in Asia and Oceania, made the forecast in a speech at industry event SIBCON on Wednesday.
But most of that decline came early in the year, with signs of improvement since then, he said.
"We see recovery to 2019 shipment levels since the start of the second half of this year," Courquin said.
Container shipping is the largest segment of marine fuels demand, taking up more than 20% of global volumes in a typical year. Any signs of an early and sustained recovery in boxship activity will have a significant positive effect on overall global bunker volumes.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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