Maersk predicts a 2-4% contraction of the container shipping market in 2022

In its Q3 report, Maersk notes global container demand falling. High inflation and a slowdown in business activity led to a decrease in imports from Asia to Europe over the last quarter by 6.0% year-on-year.

The North-South trade dynamics was noticeably affected by the increased inflation, however, trade volumes rose in the last quarter (+1.5%).

North America’s container imports from Asia are projected to be reduced by 7.5% from July to September 2022 year-on-year.

Data according to the Container Trades Statistics show that the global freight volumes fell in September below pre-crisis levels.

According to updated CTS data, the TEU volume amounted to 13.5 million in September 2022. This is 9% less than a year earlier, and almost 2% less than in pre-pandemic September 2019. On average, for the third quarter, the market volume decreased by 4% year-on-year but remains 1% higher than in 2019.

Maersk predicts global container demand falling by 2% to 4% this year.