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Majority expect prolonged downturn for container shipping: reader poll

Over 60% of Seatrade Maritime News readers expect the container shipping market to take three or more years to recover from its current downturn.

Marcus Hand, Editor

December 21, 2023

1 Min Read
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Our latest reader poll shows the majority expect a prolonged downturn for the sector which has seen rates and profitability plunge back to earth from record levels in 2021 and 2022.

Container shipping analysts have predicted that the market could continue to worsen in 2024 with carriers facing huge losses unless they are better able to manage capacity. Sea Intelligence warns of the sector facing “massive oversupply” until 2028 in even its most optimistic forecast.

The majority of Seatrade Maritime News readers taking part in our monthly poll were also negative on the outlook. Some 61% see the market taking more than three years to recover with 31% expecting recovery to five years or more.

Of the more optimistic 27% expect the container shipping market to take two years to recover, and just 12% believe it will bounce back in one year.

Look out for 2024 Markets Outlook podcast in early January next year where we will be covering the forecast for the container market with Maritime Strategies International (MSI).

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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