Hapag-Lloyd CEO predicts early peak season for ocean shipping (FreightWaves)

Written By David Foster

Image: Jim Allen/FreightWaves

Hapag-Lloyd's 2023 report shows a challenging year for the ocean container market, with significant drops in revenues and profits due to collapsing freight rates. Despite this, CEO Rolf Habben Jansen anticipates an early peak season driven by depleted inventories and increasing volumes post-Lunar New Year. Typically, peak season runs from September to October, but Habben Jansen suggests it may start earlier this year, with importers aiming to bring in goods between June and August. While 2023 saw strong containerized imports, the timing of the Lunar New Year affected year-over-year comparisons. Habben Jansen predicts soft conditions won't last, expecting elevated volumes by early summer. He points out potential labor disruptions at East and Gulf Coast ports, prompting shippers to move goods into the country sooner. Overall, despite challenging market conditions, there's cautious optimism for a rebound in shipping activity.

Read more on FreightWaves.com.

David Foster
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