News / High inflation and interest rates, but 'the numbers still add up for box shipping'

© Sheila Fitzgerald |

As manufacturers continue to diversify production to cut dependence on China, it will ensure growth in container shipping, said ONE CEO Jeremy Nixon this week.

Mr Nixon said: “We’re going through weak demand in 2023. In 2022, we had over-ordering [of newbuildings] as a rebound from the 2021 shortages many customers had. Many customers over-ordered in 2022 and now have excess inventory and there is still a lot of overhang.”

In ONE’s last fiscal year, that ended 31 March, the company’s net ...