Global shipping giant Maersk indicated that weak economic growth could lead this year to a 2.5% drop in international container traffic. As a result, freight and service charges have soared over the past two years, driving record profits for Maersk and other shipping giants.
But now as the international supply chain congestion eases and demand falls, all industries are busy destocking, and the sea freight market normalized in the fourth quarter of last year.
Currently, the industry is focusing on adjusting inventory. Inventory adjustment will be completed in the year's first half when demand will tend to balance.
As a result, Maersk predicted that global GDP growth will slow down this year, and the growth rate of the worldwide shipping container market will fall between -2.5% and +0.5%.