Maersk lays out scenarios for duration and severity of slump
- Maersk is exclusively sailing through Bab el Mandeb with military escorts; its full return will only come after it feels comfortable without escorts
- Global capacity growth is expected to be 4%-8% this year, topping demand growth of 2%-4%, creating negative pressure on rates
- Maersk expects industry-wide capacity management to begin this year
‘The unknown is how deep and long it will last,’ says Maersk’s Patrick Jany of the rate downturn. ‘Our view is that you will not have three years of pain. You will have one or two years of pain, then capacity will be taken out’
