Inventories are filled to the brim around the world after increasing inflation and uncertainty have reduced the general willingness to consume.

Maersk, however, believes that normalized inventory levels are on the horizon, but it remains too soon to tell exactly when, according to a customer update issued by the Danish shipping giant on Wednesday.

”We’re expecting a normalization in stock levels, economic outlook and consumer habits in the future that will extend to the containerized market. However, it’s uncertain exactly when this will occur,” writes Maersk.

Unpredictability, says the carrier, is linked to the war in Ukraine, current sanctions, inflation and fluctuations in energy prices.

”As the situation is so uncertain, businesses should keep monitoring the situation closely and making the necessary adjustments to maintain a strong position in the future,” the company adds.

In the second half of 2022, rates have basically normalized to a level last seen in the second half of 2020.

English edit: Kristoffer Grønbæk