Hapag-Lloyd will reduce tonnage of its container fleet due to COVID-19 pandemic

The world’s largest container carrier, the German company Hapag-Lloyd, plans to reduce the gross tonnage of its container fleet in the current market situation. This was announced by representatives of the company during today’s video briefing in Hamburg on the consequences of the COVID-19 coronavirus pandemic for the shipping industry.

At the moment, the company’s fleet of available containers exceeds the demand, but the increase in the delivery time of container cargo to recipients by Hapag-Lloyd vessels is insignificant and the company is able to fulfill its contractual obligations.

It is also noted that according to preliminary forecasts, already in 2021, some growth recovery may be observed at all major container services.

Source

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