Maersk, the Danish shipping giant, has announced plans to cut capacity on its Far East Asia to Europe routes due to lower demand, as stated in a customer advisory. The company had previously anticipated subdued global macroeconomic growth due to increased interest rates and the potential risk of a recession in Europe and the U.S.
In addition, Maersk is experiencing decreased demand as customers are currently working through large inventory stockpiles that were accumulated last year amidst concerns about potential disruptions in the supply chain. Maersk expects this destocking process to continue until the end of the year.
To adapt to the expected decrease in global demand, Maersk will be balancing its network accordingly, as stated in the advisory addressed to its customers. This involves the cancellation of seven departures between now and the beginning of December, affecting sailings from the Chinese ports of Shanghai and Ningbo.
Maersk remains committed to providing efficient shipping services despite these necessary adjustments. For any further inquiries, please contact Maersk directly.