Maersk warns of steeper global shipping container demand drop in 2023

Posted on September 1, 2023   |  

Economic weakness and inventory reductions contribute to the shrinking demand for shipping containers.

Earlier anticipating a 2.5% decrease in container volumes, Maersk now expects a potential 4% decline.

Maersk holds a substantial market share of around 17%, positioning it as one of the world's leading container shipping firms.

Despite a previous year's record profits, Maersk faces challenges as 2023 sees freight rates plunge due to global economic struggles.

The introduction of numerous new container ships, ordered during the pandemic, further complicates the industry landscape.