Container Shipping Stages Sharp Rebound Near Pre-Covid Levels, Says CEO



Nancy Hungerford | CNBC

Container shipping activity has staged a sharp rebound in recent months and is nearing pre-pandemic levels — but the outlook remains clouded in uncertainty, a top industry executive told CNBC.

“Here we are in September, and actually, we’ve almost recovered back to the levels we had in global container volumes compared with pre-Covid,” Jeremy Nixon, the chief executive officer of Singapore-based Ocean Network Express (ONE), told CNBC on Monday.

Nixon now sees signs of a V-shaped rebound underway, after a six-month “roller coaster” ride that began as a supply shock concentrated around China and evolved into a worldwide demand problem by Spring. The coronavirus outbreak was first reported in the Chinese city of Wuhan late last year, and has since spread to the rest of the world, ravaging demand as well as the global economy.
To read the full article, click here