Red Sea crisis forces Maersk to increase capacity over strategy limit
Maersk Line appears to have temporarily abandoned its strategy of maintaining capacity at no more ...
© 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 ...
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