Global Shipping Turmoil Expected to Calm Down by Mid-Year
- Firms such as Korea’s HMM ordering more boxes to fix shortage
- Maersk sees regulators’ interest in soaring rates as ‘natural’
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The world’s largest container carrier said trade disruptions that have sent freight rates soaring and overwhelmed major ports may start to ease after the first quarter, disappointing investors but signaling eventual relief for cargo shippers.
A.P. Moller-Maersk A/S Chief Executive Officer Soren Skou said the fourth quarter “was marked on the one hand by a continuous impact of the Covid-19 pandemic but also by some rewarding progress on our strategy to become the integrator of container logistics.”