Page 10 - LUA November - December 2023 for Magzter
P. 10
SPECIAL REPORT
Our industry is facing
a new normal with
subdued demand,
prices back in line with
historical levels and
inflationary pressure
on our cost base.
VINCENT CLERC
MAERSK
A view also expressed by Rodolphe
Saadé, Chairman and Chief Executive
Officer, CMA CGM Group: “The
slowdown in the global economy is
expected to continue weighing on
our industry in the period ahead but
volumes carried are still robust. We
remain committed to controlling our
operating costs, and are continuing to
focus on decarbonising and digitising
the supply chain to best meet our
customers' needs.” We remain committed to
Vincent Clerc, CEO, Maersk also says: controlling our operating
"Our industry is facing a new normal with costs, and are continuing
subdued demand, prices back in line with
historical levels and inflationary pressure to focus on decarbonising and
on our cost base. Since the summer, we digitising the supply chain to best
have seen overcapacity across most regions meet our customers' needs.
triggering price drops and no noticeable
uptick in ship recycling or idling. Given the RODOLPHE SAADÉ
challenging times ahead, we accelerated CMA CGM GROUP
several cost and cash containment measures
to safeguard our financial performance. Nevertheless, if spot rates do not recover, CONSUMER SPENDING
While continuously streamlining our we could face some challenging quarters in High inflation may mean lower
organisation and operations, we remain this subdued market environment." spending on non-essential goods. "2024
dedicated to our strategy of fulfilling our may herald the return of some level
customers’ diversified supply chain needs SIX KEY ISSUES FOR 2024 of seasonality to ocean shipping but
while pursuing growth opportunities Xeneta lists out six key issues for the underlying consumer demand will still
across our Terminals business and Logistic container shipping industry for 2024: hold sway over the market. Container
& Services." Consumer spending shipping is inextricably linked to
Hapag-Lloyd is working hard to reduce Capacity & fleet growth consumer spending, which in turn is
expenses, says CEO Rolf Habben Jansen Return of "classic seasonality" directly impacted by global and regional
"even more, such as by achieving savings Industrial action financial outlooks. While inflation is
on the procurement side and making Break-up of alliances easing in most western countries, it will
adjustments to our service network. Carbon emissions still remain high in 2024."
8 LUA NOVEMBER - DECEMBER 2023
