The shipping company MSC expects positive signs for the global economy, despite a large drop in global demand and significant disruptions in the supply chain. The company’s expectations are that the positive signs will appear during the second quarter towards the middle of the year and the trade market will grow again in the second half of 2023.
Following the 17.5% market share the company holds in global container traffic, it has become an indicator of the health of the trade world. According to the company’s CEO Soren Toft, as soon as the high inventories that exist mainly in North America and Europe begin to decrease, we will begin to see the market recover.
Regarding the American market, the CEO added, “We still see the United States in a positive light, it is a net energy exporter and I believe that they will slowly succeed in reducing inflation. The labor market is very strong and in fact there is full employment. Therefore, we still see the United States as very positive and strong.” According to him, the Chinese market is also showing initial positive signs, with healthy cycles in the trade route between China and Northern Europe. In addition, from information recently received from the Chinese market, an expansion in the manufacturing industry can be seen.
MSC, headquartered in Switzerland, is a private shipping company established in 1970, owns 721 container ships and continues to focus its efforts on increasing its fleet through a combination of new ships in addition to the purchase of second-hand vessels. “MSC has spent decades building and maintaining relationships with a long list of satisfied customers,” said OL USA CEO Alan Beyer. “Their current strategy is one that will take care of keeping their customers since losing and returning a customer can be a very expensive process.”
The company recently reported its plan to end the collaboration with Maersk in 2025, a collaboration that lasted for about 10 years. Following the different routes the companies are taking. This collaboration, known as 2M, together with other “alliances” made between the various transport companies, canceled many cruises in an attempt to stop the drop in transport prices.
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