Maersk sees slight improvement in container traffic towards Chinese New Year

The congestion issues in the container market will abate slightly, according to Maersk. The pressure is expected to continue until the Chinese New Year in the beginning of February.

Photo: Amr Abdallah Dalsh/Reuters/Ritzau Scanpix

The situation on the busy ocean lanes where large container vessels clog up vital ports in the US and China is seeing slight improvements, according to an update from Maersk on the market situation.

The market pressure is expected to continue until the Chinese New Year in the beginning of February, but the container line has been successful in procuring more containers and shipping empty containers back to Asia where they have been in short supply, the company informs.

"We expect space to remain tight throughout Lunar New Year due to capacity reductions caused by port and vessel delays," writes Maersk in the update and adds:

"We still see shortages in some locations in the lead up to Lunar New Year, but the situation has improved from last update.

Port congestion and vessel delays mean that around 12-15 percent of global container ship capacity is currently unavailable in the market.

"Container demand growth is likely to moderate compared to 2021 supported by strong demand from the US. The outlook is more uncertain in Europe where we have seen the demand slowing," writes Maersk.

English Edit: Christoffer Østergaard

Asian container carriers beat European rivals on margins in hectic quarter 

"The entire industry is exhausted. Customers, carriers, ports" 

More from ShippingWatch

OECD downgrades growth forecast for global economy

The global economy is still growing, though it's losing momentum, according to the latest growth estimate of the OECD's Economic Outlook. Bottlenecks in the shipping sector and elsewhere as well as pressure on supply chains have contributed to rising inflation.

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs