World-leading shipping company Maersk Line saw up to a 15% increase in container volumes from Asia to the rest of the world in early 2016, which could indicate that industry demand is on the rise, despite recent issues with weak demand and swelling overcapacity, according to The Wall Street Journal.
Robbert Van Trooijen, CEO of Maersk Line Asia Pacific, said, “There has been more demand certainly this time around than it was last year. That in itself is a positive sign of a good start to the year.
“What we don’t know yet is what will happen when the factories come back from collective holidays.
“We don’t know how fast production would pick up after factories come back and what level of exports they would resume.”
PTI previously reported that the OECD had found that the global economy is likely to grow no faster in 2016 than it did in 2015, with the Baltic Dry Index recently recording the lowest ever position on its index of below 293 points.
It was been argued that if the industry is to pull through difficult times, it must begin to cut capacity and curb orders for ultra large containerships.