Seaspan boss seeks to disprove assumption there is a close link between the two
He hopes to disprove the assumption that there is a close link between the two, and instead show that container shipping should be able to thrive even when consumers are spending less.
That is because container shipping is dependent on the volume of cargo being shipped, rather than the value of merchandise. So even if price-c0nscious shoppers buy cheaper products, the number of goods sold will not necessarily go down.
Container shipping “is all about quantity”, said Mr Wang, who argues that this bodes well for the industry.
At a time when questions are being asked about how the container trades will fare at the end of the current peak season, and whether austerity measures will push the industry back into recession, Mr Wang is more positive about prospects.
But he also wants to be able to present clear proof that there is no direct link between consumer spending and the state of container shipping, and that another economic slowdown will not automatically be bad news for the lines.
