Fascinating article from the New York Times will confirm something known to all the industry, that you can’t have your $1,000+ peloton bike without a boxship carrying it from factories in China. This is especially the case where world trade is facing the extra challenge of reduced air freight, which has fallen dramatically with people not flying. After containership rates have been depressed for so long and the industry is facing its biggest challenge in modern times, it is nice to see owners and operators getting the benefit of an increase in rates. Shipping costs remain a small proportion of the costs of that peloton bike!
Many in the industry also predict the pandemic will fast-track a number of technological advancements – particularly with regards to autonomous operations (where we have seen crew stuck at sea for months) and blockchain tracing systems for cargo.