Maersk Confirms A Dropdown In Global Demand For Shipping Containers
Maersk, considered a barometer for global trades, has predicted an expected dropdown in demand for global shipping containers. Amid weakening supply chain and consumer confidence, Maersk expects the demand for shipping containers to slow down.
A.P. Moller Maersk is a Danish Sipping and logistics company; it is the world’s biggest container shipping company, and they have a market share of around 17%.
Maersk is considered one of the barometers of global trade and shipping. According to their statement, they have loaded fewer containers ( 7.4% to be exact) onto the ships as compared to 2021. They also went over a full-year revision of their container business.
“Continued congestion and dislocation of supply and demand fundamentals in the logistics industry increases the uncertainty surrounding the outlook for freight rates.” – Maersk
While the global economic outlook is shadowed by rising inflation and energy price inflation, Maersk expects the demand to go down from -1% to 1% in the year 2022.
Higher inflation coupled with geopolitical uncertainty tends to weigh down on consumer sentiment and the expectation for growth. The result became visible as Maersk revealed results regarding the freight rates soaring on Wednesday. In addition, supply chain congestion was prominently pronounced in Europe.
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