Maersk on Global Trade: Dark clouds on the horizon

The world’s largest container shipping firm has a dim outlook on next year’s international commerce

Shipping giant, Maersk, is sounding the alarm on global trade going into next year.

The CEO of the Danish company warns of dark clouds on the horizon, and says international commerce is “moving backward.”

Maersk expects global container demand to fall as much as four percent this year, saying shipping companies are canceling voyages to better align with demand.

The company blames the war in Ukraine, Europe’s energy crisis, and China’s Covid-19 lockdowns.