{"id":27041,"date":"2022-11-02T10:42:30","date_gmt":"2022-11-02T10:42:30","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=27041"},"modified":"2022-11-02T10:42:32","modified_gmt":"2022-11-02T10:42:32","slug":"shipping-giant-maersk-flags-slowdown-in-demand-as-dark-clouds-gather","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2022\/11\/02\/shipping-giant-maersk-flags-slowdown-in-demand-as-dark-clouds-gather\/","title":{"rendered":"Shipping giant Maersk flags slowdown in demand as dark clouds gather"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Container shipping giant Maersk has sounded a warning that global demand is slowing, saying that \u201cfreight rates have peaked\u201d.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Copenhagen-based company told investors that the Ukraine war, Europe\u2019s energy crisis, high inflation and a \u2018looming global recession\u2019 were all hitting the world economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It now expects global container demand to fall by between 2% and 4% this year, down from a previous forecast of +1 to -1%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although <strong>A.P. Moller \u2013 Maersk<\/strong> posted another record quarter for July-September, its chief executive <strong>S\u00f8ren Skou<\/strong> warned that demand was falling:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><\/p><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>However, it is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and easing of supply chain congestion.<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">The warning knocked shares in Maersk by over 5%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The world\u2019s biggest shipping company saw its earnings rocket as the global economy reopened after pandemic lockdowns, and demand for containers surged. Its profits tripled in 2021 to $24bn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Container shipping giant Maersk has sounded a warning that global demand is slowing, saying that \u201cfreight rates have peaked\u201d. The Copenhagen-based company told investors that the Ukraine war, Europe\u2019s energy crisis, high inflation and a \u2018looming global recession\u2019 were all hitting the world economy. It now expects global container demand to fall by between 2% [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":27042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[7893,9088,8440,11337,5196,5494,6621,6568,6546,5205,8235,10889,8415,5485,10214,6069,7639,6808,8414,5180,5521,5251,36],"class_list":["post-27041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chain","tag-container","tag-crisis","tag-demand","tag-economy","tag-energy","tag-europe","tag-freight","tag-inflation","tag-july","tag-lockdown","tag-maersk","tag-naersk","tag-pandemic","tag-rates","tag-recession","tag-rocket","tag-shares","tag-soren-skou","tag-ukraine","tag-ukraine-war","tag-war","tag-world"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=27041"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/27042"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=27041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=27041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=27041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}