Aerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin ChanAerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin Chan
Aerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin Chan

Shipping industry in choppy waters as coronavirus evokes 2016 slump and Hanjin bankruptcy

  • Events surrounding the coronavirus outbreak have destroyed demand, shipping association BIMCO says
  • Industry profits could slide 25 to 30 per cent, reminiscent of the 2016 slump that bankrupted Hanjin Shipping: Moody’s

Topic |   Transport and logistics
Aerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin ChanAerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin Chan
Aerial view of the container terminal in Yantian, Shenzhen. Global container shippers idled 2.46 million twenty-foot containers as of March 2, equivalent to 10.6 per cent of total industry capacity. Photo: Martin Chan
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