Uncertainty remains in the global container market
# Expert Advice Section
Ocean Network Express (ONE) summed up the results of the first quarter of this fiscal year. Net profit fell by 91% compared to the same period last year and amounted to $ 513 million, Container News reports. Against the background of such indicators, the carrier said that the container transportation market remains uncertain, so ONE refrains from making any forecasts for this fiscal year, which ends on March 31, 2022.
Container shipments from Asia to North America in April-June decreased by 18% compared to the same period in 2022. This is due to the slow pace of inventory consumption and stagnation in the consumption of goods against the background of inflation and high interest rates," ONE financial report quotes the publication. – Shipments from Asia to Europe in April-May were 9.1% higher than in the same period of 2022, due to an increase in shipments to the Mediterranean, in particular, construction materials to Turkey. Shipments to Northern Europe remained at the level of the same period last year due to stagnation of consumption