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COPENHAGEN: Delivery group Maersk mentioned it expects weaker 2022 international container demand progress on Wednesday, after transferring fewer containers by sea within the second quarter resulting from worsening client confidence and bottlenecks at ports.
“Volumes in ocean (transport) have been softer as congestion continued and the struggle in Ukraine weighed on client confidence, notably in Europe,” CEO Soren Skou mentioned in a press release.
Maersk, seen as a barometer for international commerce, mentioned the variety of containers it loaded onto ships fell by 7.4% within the second quarter in contrast with a 12 months earlier.
The corporate, one of many world’s greatest container shippers with a market share of round 17%, revised its outlook for international container demand to the decrease finish of its vary between minus 1% and plus 1%.
The Copenhagen-based firm confirmed forecast-beating second-quarter numbers introduced on Tuesday, when it additionally raised 2022 revenue steering as congested international provide chains which have boosted freight charges persist longer than anticipated.
“In Europe, provide chain congestion remained as retailers and producers stored containers in ports and warehouses resulting from weak remaining demand,” the corporate mentioned.
That resembles the state of affairs in the USA, the place the nation’s largest warehouse market is already full as main U.S. retailers warn of slowing gross sales of the clothes, electronics, furnishings and different items. On the provision aspect, Maersk mentioned supply instances remained prolonged.
“It’s nonetheless unsure when capability constraints together with landside bottlenecks in trucking and warehousing will abate,” it mentioned. Whereas general freight charges remained excessive within the second quarter resulting from congestion, Maersk mentioned quick time period and spot charges declined within the interval in comparison with the primary three months of the 12 months.
The brand new steering is predicated on a gradual normalisation in ocean container transport within the fourth quarter of this 12 months. Its earlier steering was primarily based on that taking place early within the second half of the 12 months.
Final week, the Port of New York and New Jersey reported that its June 2022 volumes have been the second-highest in historical past, capping a torrid semester that has overtaken the primary half of the record-setting 2021 12 months by 11.4 p.c.
