News / CIMC reports soft demand for new containers, but eyes recovery in 2024

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Container demand is expected to be muted this year as freight rates continue heading south, according to China International Marine Containers (CIMC) chairman and CEO Mai Boliang.

However, at the company’s AGM last week he also predicted that, with periodic renewal, container demand would improve in 2024.

Mr Mai, who leads the world’s largest container manufacturer, said few new containers were on order this year, so increased scrapping of old boxes could mean demand would recover next year.

The meeting was two months ...