Maersk Foresees Global Trade Surge Amid Potential U.S. Port Strikes

Maersk anticipates a significant rise in global trade growth, up to 7%, driven primarily by increased U.S. demand. Port strikes and tariffs pose potential threats, but North American President Charles van der Steene remains optimistic. Maersk is advising customers on optimal shipping routes amid ongoing Red Sea disruptions.

Maersk, a leading global carrier, predicts a promising surge in global trade growth, potentially reaching 7%, spurred by robust demand from the United States. This comes despite looming port strikes and tariffs on foreign goods, according to Charles van der Steene, Maersk's North America regional president, speaking at the Reuters NEXT conference.

Van der Steene highlighted the impact of Houthi attacks on vessels in the Red Sea and the resilience of U.S. demand, which remains Maersk's largest market. With major clients like Walmart and Nike, Maersk recently updated its profit forecast and 2024 container volume outlook, despite potential disruptions.

The National Retail Federation expects record cargo traffic in late 2023 due to the threat of an East Coast port strike. Maersk, preparing for continued disruptions until 2025, is helping clients optimize shipping routes to mitigate risks, factoring in product types and potential costs.

(With inputs from agencies.)