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Published December 23: Traditionally, Chinese New Year (CNY) sees a production slowdown in Asia, and the shipping lines blank sailings in order to bring supply in line with demand. In 2020, we saw an extension of CNY due to the COVID outbreak, while in both 2021 and 2022 the shipping lines kept capacity high in order to cater to high demand levels, says Sea-Intelligence.
However, when 2023 is compared with both 2019 and the average capacity growth rate of 2015-2019, “we see an extraordinary increase in deployed capacity,” says Alan Murphy, CEO of the Copenhagen-based analyst. Asia-North America West Coast is seeing capacity growth of 35% to 38% and Asia-North America East Coast of a staggering 57% to 59%.
Read more in an article from WorldCargo News.