CMA CGM begins to recover container volumes in China

CMA CGM said there was a recovery in production from the Chinese market after the Corona virus (COVID-19) hit the country in February.

As of last week, container lines canceled 75 voyages on Asia-Europe and trans-Pacific routes due to low volume from China, however, the market is currently recovering, CMA CGM said. knowing they are expected to operate their fleet capacity back to normal by mid-March.

Prolonged closure of Chinese factories in February after Chinese New Year resulted in a 19.8% drop in volume at China's eight largest container ports.

The production capacity of Chinese factories is monitored daily and there are signs of improvement since the end of February, CMA CGM said in its annual results report.

There has been an increase in the number and it is expected that a major recovery effect will take place once the health situation is stabilized, as Western countries will seek to rebuild their inventories. , CMA CGM added.

Phaata (Source: Seatrade Maritime News)

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