Sea-Intelligence Forecasts Q3 Container Freight Volumes Down Just 0.1% on Year

by Ship & Bunker News Team
Tuesday August 25, 2020

Global demand for container shipping may be down by just a marginal amount in the third quarter from last year's level, according to consultancy Sea-Intelligence.

The consultancy forecasts third-quarter global container volumes as being down by just 0.1% in the third quarter from the same period of 2019, it said in an emailed research note Monday.

That figure is dragged down by a retreat in July, with both August and September's volumes showing growth from last year's levels.

"While this may seem counter-intuitive in a pandemic, there are some factors that we believe are at play here," the company said.

"First is a shift in consumption patterns away from services to physical goods, which would give rise to a need for stockpiling a large volume of goods different to what were previously sold.

"Second, restrictions of travelling and regular outings would potentially fund a higher spending on consumer products.

"Lastly, a change in working conditions necessitating a work-from-home approach has also driven consumer behaviour towards purchases for furnishing home offices."

Container lines are the largest consumers of marine fuel, and signs of a rapid recovery in the global container market augur well for the health of the bunker industry.

Ship & Bunker News Team
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