Peak Shipping Season Runs Aground as Ocean Lines Pull Capacity

Ocean container lines are bracing for muted demand during the usual peak shipping season heading into the fall, with supply chains still rattled by the coronavirus pandemic and retailers in the U.S. and Europe reining in restocking plans.

Shipping lines that move the vast majority of the world’s manufactured goods have canceled more than a quarter of all sailings on Asia-to-Europe and trans-Pacific lanes, the world’s biggest trade routes, since the beginning of March, according to maritime data providers.