A major international Shipping group expects global container demand to fall this year; they expect sales of durable goods come to a “standstill”, leaving flat-screen TVs and furniture piling up in warehouses in the Asia.
A increse of consumer demand and pandemic-related bottlenecks trapping containers in key ports had boosted freight rates and profits in the shipping recenly, but the cost-of-living crisis has reversed that trend.
One of the world’s biggest container shippers said that inflation and a worsening economic situation had dented consumer demand, which could lead to a normalisation of the global shipping market towards the end of the year.