Surprise cargo surge could surpass last year’s holiday period

Freight carriers including container shippers and cargo airlines say global demand is building toward a seasonal peak that could outstrip last year’s as more consumers shop online to overcome coronavirus curbs. Overall, container volumes may dip just 2% in 2020 compared with industry experts’ early forecasts of a 15% slump, according to Rolf Habben Jansen, chief executive officer of German shipping line Hapag-Lloyd AG, which is deploying more capacity now than it did during the build-up to year-end holidays in 2019. “Volume started really coming back from August,” Jansen said Friday. “From everything we see now, it looks like the market is going to remain pretty strong until at least Chinese New Year in mid-February.” Cargolux Airlines International, Europe’s biggest freight-only carrier, is experiencing a similar surge in demand and has 30 Boeing 747 freighters in continuous operation. While that’s partly because a drop in passenger flights has reduced hold space, CEO Richard Forson said consignments of protective gear that dominated earlier in the year are giving way to toys, fashion items and electronic goods. The upturn is unlikely to deliver a bumper festive period for high-street retailers battered by the coronavirus outbreak, with Internet-focused businesses the likely beneficiaries. <br/>