[Source: Supply Chain Dive] The pandemic has caused considerable changes in the global shipping industry that have led to the upending of the equilibrium of equipment and resources — storage, empty containers and reefer transportation. The disruption began when ocean carriers issued blank sailings going out of China when factories in the country shut down.
It has continued as consumer demand slumps and importers cancel orders. The 2M Alliance has canceled about a fifth of its capacity along the Asia-Europe trade.
