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Capacity is expected to exceed 30 million TEU at the end of third quarter and hit 30.5 million by the end of 2024

Importing goods on Far East-Europe trade using the spot market now costs an additional $6.97mn/1,000 containers shipped

Merchandise exports register growth of 3% at $35.20 billion in June

Largest decrease in June was on Asia↔North Europe of 7.3 percentage points to 34.9%

Improvements on the West Coast of North America; challenges in Asia-Europe and East Coast North America

Drewry expects congestion at transhipment ports to remain high but easing is anticipated as carriers add more capacity

Early peak season is both a short-term change & signal that there will be a vacuum when peak volumes are complete

Demand for ocean freight out of Asia picked up early in May, reflecting possible start of restocking in Europe

Maersk now expecting underlying EBITDA of $7-9bn and EBIT of $1-3bn (previously $4-6bn and $-2-0bn, respectively)

Red Sea crisis continues to cause significant disruptions in global shipping; three alliances short by 36 vessels

Spot rates to reach level we haven’t seen since 2022 when Covid-19 pandemic was still wreaking chaos: Peter Sand, Xeneta

Strength reinforced by falling reefer freight rates as carriers adjust prices down after pandemic era disruptions