Trade

Shipping Shifts From Jackpot to Job Cuts After $364 Billion Boom

Container carriers head for 2-3 year slump on excess supply
Price wars will hurt everyone, CMA CGM executive says

A container ship docked at the Port of Barcelona in Barcelona, Spain.
Photographer: Angel Garcia/Bloomberg

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By Brendan Murray and Tara Patel

November 12, 2023 at 11:00 AM UTC

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Consumers gearing up to buy the latest imported appliances, clothes or electronic gadgets this holiday season might want to spare a thought for the companies that will struggle to make money for the next few years hauling products across the ocean.