by Jacob Gronholt-Pedersen
COPENHAGEN (Reuters) – Maersk said on Wednesday it expects weaker growth in global container demand in 2022, after a decline in its ocean freight volumes in the second quarter.
The shipping group, considered a barometer of global trade, said the number of containers loaded onto its ships fell 7.4% in the second quarter compared to a year earlier, due to the deterioration of the consumer confidence and bottlenecks at ports.
“(Shipping) volumes were lower as congestion continued and the war in Ukraine weighed on consumer confidence, particularly in Europe,” chief executive Soren Skou said in a statement. .
The company, which is one of the world’s largest container carriers with a market share of around 17%, has revised down its outlook for global container demand, to the low end of its range of -1% to +1%.
The Copenhagen-based company confirmed its second-quarter guidance announced on Tuesday and upgraded its 2022 profit forecast as congested supply chains persist.
“In Europe, supply chain congestion remained as retailers and manufacturers kept containers at ports and warehouses due to weak end-demand,” the company said, adding that lead times delivery dates remained long on the supply side.
While overall freight rates remained high in the second quarter due to bottlenecks, Maersk said short-term and spot rates declined during the period compared to the first three months of the year.
(Reporting by Jacob Gronholt-Pedersen; French version Dina Kartit, editing by Kate Entringer)
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