7.5 C
Saturday, May 27, 2023
Evergreen Line
Evergreen Line
Evergreen Line
Home News Container movement to fall in 2023: Mizuho Bank

Container movement to fall in 2023: Mizuho Bank

Mizuho Bank's industry research division predicts that demand for maritime container transport will fall in 2023 in a study on current supply and demand trends and short-term forecasts in key industries.

Mizuho Bank believes that box movement will be slower in 2023, especially in the Asia-Europe and Asia-North America trades, due to declining consumption and normalising demand, which has increased dramatically since the second half of 2020.

The third largest financial services company in Japan anticipates a slight 1.4% year-on-year decline in container movement this year.

Spot rates have reverted to pre-pandemic levels, and annual contract rates are expected to fall. As a result, the bank expects that freight prices will be adjusted to reflect those in 2019.

Latest Posts

Drewry’s World Container Index drops this week

Drewry’s composite World Container Index (WCI) decreased by 2% to US$1,685.32 per 40ft container this week.Source: Drewry World Container Index, Drewry Supply Chain AdvisorsThe...

Houston Ship Channel generates over US$900 billion economic value to the US

Results from the John Martin Associates study showed that in 2022, the Houston Ship Channel generated US$$906 billion of economic value to the United...

MSC’s Swan service reinstated to North Europe and Poland

MSC's Swan service, which links main ports in China with North European ports in Benelux, Gdynia, Gdansk and Klaipeda, is being reintroduced as a...

DP World cut global carbon emmissions in 2022

DP World cut direct carbon emissions from its global operations by 5% last year, according to its latest Environmental Social and Governance (ESG) report,...

World’s largest container ship arrives at Port of Antwerp-Bruges

World's largest container ship MSC Loreto arrived in Antwerp, Belgium to load and unload containers at the MSC PSA European Terminal (MPET) in the...