China, US shipping container demand to ensure ‘exceptionally strong’ performance continues, Maersk says
- Denmark’s Maersk, which handles about one in five containers shipped worldwide, last week raised its outlook for the year
- It said there are not enough ships available in the world to meet a surge in consumer demand, resulting in record-high freight rates
Denmark’s Maersk said on Wednesday it expected its “exceptionally strong” performance in the first quarter to continue for the rest of the year, driven by high demand for shipping containers from China to the United States.
Maersk, which handles about one in five containers shipped worldwide, said there were not enough ships available in the world to meet a surge in consumer demand, resulting in record-high freight rates.
“The situation today is that our customers are trying to meet a very, very high underlying demand, while at the same time rebuilding stock,” chief executive Soren Skou said.
This is a huge problem for our customers. It’s a mess and it will take some time to clear
Imports into North American from Asia rose 40 per cent in the first three months of the year. Container ships are now waiting 16 days outside the port in Los Angeles to unload, Skou said.
“This is a huge problem for our customers,” the CEO said. “It’s a mess and it will take some time to clear.”