Container shipping optimism may be misplaced
The leading container shipping consultancy, Drewry, stated that it thinks that demand is not going to be sufficient to offset the capacity surge in the container shipping industry, and leaves it unconvinced that freight rates have bottomed out.
“We would be confident if the foundations for recovery were in place, but we just don’t see them,” said Simon Heaney, editor of Drewry’s “Container Forecaster” report, during a presentation on his company’s latest sector outlook.
“Without those building blocks in place, we view the uptick in spot rates and charter-hire prices as a transitory illusion."
The full article cam be read here: https://www.freightwaves.com/news/container-shipping-warning-green-shoots-are-transitory-illusion?j=402502&sfmc_sub=104277223&l=256_HTML&u=5730257&mid=514011755&jb=2011&utm_source=sfmc&utm_medium=email&utm_campaign=as_daily_4_26_23&utm_term=Container+shipping+warning%3a+Green+shoots+are+‘transitory+illusion’&utm_id=402502&sfmc_id=104277223&sfdc_id=0035d00006sb4POAAY
Meanwhile, in its 2022 full year results presentation, Ocean Network Express (ONE) said the container market was in the midst of major changes including the aftermath of global supply chain congestion, macroeconomic changes and trade flow shifts due to war and other geopolitics, and changes in consumer behaviour.
Under these circumstances, ONE said that it is extremely difficult to announce a reasonable business forecast at this time and the full-year forecast for the 2023 financial year is yet to be determined.
Read the full article here: https://www.seatrade-maritime.com/containers/2023-too-difficult-forecast-says-one?_mc=NL_DR_EDT__20230501&cid=NL_DR_EDT__20230501&utm_campaign=STRADE_News_Seatrade%20Maritime%20Daily%20Headlines_NL_20230501&utm_emailname=STRADE_News_Seatrade%20Maritime%20Daily%20Headlines_NL_20230501&utm_medium=email&utm_source=Eloqua&utm_MDMContactID=7f01322a-612e-454d-9cf7-be2331fd533f&utm_campaigntype=Newsletter&eM=d3ed75db95146a4c071fe8ed15f0dbe3c92156cc98b6fb339773aa6f102b067a&eventSeriesCode=ES_SEATRDMTMCTNT&eventEditionCode=MTM00SRC&sessionCode=S_STRDMTMNEWS&sp_eh=d3ed75db95146a4c071fe8ed15f0dbe3c92156cc98b6fb339773aa6f102b067a
For more information about Davies Turner’s ocean freight forwarding and logistics services, please contact ocean@daviesturner.co.uk or visit the relevant pages of this website.
Container shipping optimism may be misplaced
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