Ocean carriers have withdrawn more than 1.67m teu of export capacity from China since the lunar new year holiday, according to an Alphaliner survey.
Based on an average freight rate of $1,000 per teu, the cumulative revenue lost to the carriers will have exceeded $1.5bn, putting some of the less-financially secure container lines at risk.
And with a significant link in the supply chain broken, manufacturers worldwide face lengthy shutdowns due to …
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Source: The Loadstar