The car carrier market, one of the shipping sectors hardest hit by Covid-19 pandemic, has rebounded strongly with some charter rates recently reaching five-year highs.

In April and May of 2020, car trade volumes had fallen by 60% compared to the same two months of the prior year, with 4.5m ceu of trade ‘lost’ across last year, Clarksons Research reported.

Fast forward 12 months and volumes are now just 5% below pre-Covid-19 volumes thanks to a combination of pent-up demand, economic stimulus measures and reopening economies.