Freight carriers including container shippers and cargo airlines say global demand is building toward a seasonal peak that could outstrip last year’s as online consumer spending surges during the COVID-19 pandemic.
Container volumes may dip just 2% for 2020 compared with early industry-expert forecasts of a 15% slump, said Rolf Habben Jansen, chief executive of German shipping line Hapag-Lloyd, which is deploying more capacity now than it did during the run-up to year-end holidays in 2019.
The upturn is unlikely to deliver a bumper festive period for high-street retailers battered by the coronavirus outbreak, with internet-focused businesses the likely beneficiaries. Consumers will spend about the same overall on presents and food as in 2019, but are prevented from shopping in person by a new lockdown that bans nonessential retail.
Meanwhile, shippers are struggling with a container shortage in Asia, Jansen said, and ports elsewhere are congested with boxes stuck at terminals.