Alan Murphy, CEO of Sea-Intelligence, said the impact of the coronavirus pandemic was “at its peak in March” as laden imports contracted by 17.9% year-on-year and total throughput contracted by 18.7% year-on-year.

 

In May, he noted that North American laden imports contracted once again, but this time by a “slightly lower” percentage compared to the decline seen in March.

 

In June, however, Murphy said there was a break in the trend, with handled volumes recording a considerably lower percentage reduction.

 

Sea-Intelligence said laden import volumes that month contracted by only 7.3% from a year ago, while total handled volumes contracted by 9.8%.

 

“Given these volume developments, it appears as if the transpacific trade is over the coronavirus hump, and perhaps is the indication which prompted the carriers to increase capacity in Q3, which, for Asia-North America West Coast stands at 13.1% year-on-year and 16.6% year-on-year on Asia-North America East Coast,” Murphy said, noting that this is the “strongest capacity growth” in a decade.