The shipowners feel sad. This year, according to figures from the Drewry firm, cited by online media loading star, freight rates are expected to fall by 60% in total. Very far from the figures observed during the Covid crisis, where we were able to observe peaks of $15,000 per container on certain routes.
This drop is already reflected in the shipowners’ accounts. The Danish Maersk, for example, recorded a decrease of almost 9 billion dollars in its turnover in the second quarter alone compared to last year. Worse still, explains the Drewry company, next year freight rates should drop again by 33%. And this phenomenon is expected to continue in the coming years.
Container demolitions are not keeping pace
Another big problem for hobbyists: their fleets of boats. Many shippers are renewing their fleets to meet environmental standards, but they are not getting rid of their old ships fast enough.
This year, in terms of capacity, demolitions are estimated at around 115,000 containers. However, on the other hand, with the new ships launched, an additional capacity of 600,000 containers will arrive next year. Enough to raise the specter of the 2008 overcapacity crisis that brought the entire sector to the ground: too many ships and not enough goods.
Overall, the company says, shippers are expected to make a $20 billion profit in 2023 but report a $15 billion loss next year, “as freight rates continue to fall.”
A situation that also affects container manufacturers. The factories are now paralyzed. Box manufacturing contracted 71% in the first quarter, the lowest level since 2009. Resolving bottlenecks in the global supply chain is recovering empty containers that were stuck in ports around the world. If in 2020 we were wondering where the containers are, now we know that there are too many.
Source: BFM TV
