JULY 2023
Ocean carriers remain optimistic about future volumes. Maersk, Evergreen, and CMA CGM collectively place orders for up to a staggering 44 containerships, valued at over $5 billion, according to Offshore Energy.
OUTLOOK IN JULY
Shippers and carriers agree on one thing: this year there was no peak season. Despite the fact that retail sales were better than expected (given the constant headlines about pending recessions, the devastating impact of high inflation and punishingly high interest rates), almost every brand and retailer decided to take a very cautious approach to inventory.
Both suppliers and carriers felt the pain of significantly reduced orders – especially compared with the surge in orders a year ago.
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