Maersk Sees Container Demand Slowing as Recession Looms

Maersk Sees Container Demand Slowing as Recession Looms
The cargo ship "Maersk Bratan" of the Danish shipping company Maersk is loaded at a container terminal in the harbor in Hamburg, Germany, on June 24, 2022. Fabian Bimmer/Reuters
Reuters
Updated:

OSLO—Shipping group Maersk warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations.

“It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and easing of supply chain congestion,” Chief Executive Soeren Skou said in a statement.