News / Market too pessimistic, says Evergreen boss, demand will bounce back

Evergreen president Eric Hsieh has reported that the carrier’s profits last year of $12bn were 40% higher than the previous year, despite the market correction in the second half, and reasserted his belief that freight levels will rebound in H2 this year.

He said: “Due to the Russia-Ukraine war, high inflation and high retail inventory that started last year, the container shipping market was sluggish and the first half of this year continued to be weak.

“Q1 23 revenue fell by 60%-70% compared ...