Smaller ships to be introduced in response to sanctions’ impact on cargo volumes
MAERSK and Mediterranean Shipping Co are cutting capacity provided in the Asia-Mediterranean trades in response to weak demand.
In particular, imports into Russia have fallen sharply over the past year because of trade sanctions.
Figures produced by Container Trades Statistics show that volumes from Asia to Russian Black Sea ports shrank to 25,848 teu in the first four months of this year, compared with 47,326 teu in the same period of 2014, a drop of almost 50%. In April, volumes were down to 6,771 teu from 12,931 teu a year earlier.