CARGO

DEMAND FALLS FOR CAR CARRIERS

VEHICLE CARRIERS

Demand for car carriers has continued to decline since the onset of Covid-19 because of manufacturing cutbacks and reduced car sales in both the new and second-hand markets. Total Car Equivalent Unit (CEU) demand out of Japan to mid-June was 22 per cent below that for the same period in 2019, while total CEU demand out of Germany in the same period was down 45 per cent. In the US, total CEU demand has fallen 23 per cent and over 22 per cent in South Korea.

China saw a slight upswing in March and April, when the nation’s economy began to reopen, but it still remains down 14 per cent year