US import plunge inevitable as canceled sailings mount

Container-line schedules foretell that U.S. seaborne imports will fall sharply. That, in turn, will translate into lower trucking and rail volumes to the extent lost seaborne imports are not offset by higher volumes across land borders, by air, or from domestic producers, warehouses and distribution centers.

The latest numbers are staggering. According to Copenhagen-based Sea-Intelligence, 435 deep-sea sailings have been “blanked” (canceled) through this past Sunday as carriers retune service levels to coronavirus-reduced demand. This equates to a loss of 7 million twenty-foot equivalent units (TEU) of container capacity to Europe and the U.S.

Further cancellations were announced after the Sea-Intelligence report was released, including sailings by the 2M Alliance (Maersk, MSC) and Hapag-Lloyd.