The escalation of Covid-19 into a pandemic in the first quarter of 2020 crippled world trade and sent the container market on a bumpy ride through lockdowns, port closures, blank sailings and redelivery of vessels.
Equally abruptly, markets ricocheted with incredible stamina post-summer.
Thus far in 2020, we have witnessed the idle container fleet increasing from 6% in January to 11% in May before dropping to 1% at the end of October.
