News / Yang Ming president Tu remains optimistic, despite 'uncertain 2023'

Patrick Tu. Photo: Yang Ming

Yang Ming president Patrick Tu believes the lifting of China’s Covid-19 restrictions could stimulate consumption – although freight rates have fallen substantially since mid-2022.

He told a media briefing on Monday the looming Chinese New Year, which falls on 22 January, had temporarily halted the slide, as Asian exporters rushed to get goods out before the holiday factory shutdown.

“There are too many positive and negative factors,” he said. “Last year was the best ever for the container shipping industry, in terms ...