In the shipping industry, four key trends are shaping the landscape for 2024. Consumer spending caution, influenced by factors such as inflation, interest rates and shifting preferences is expected to persist, impacting container demand. Oversupply risks loom as deliveries surge, potentially leading to intense competition and diminished profitability. Geopolitical uncertainties, such as conflicts in Ukraine, Taiwan and Israel, are affecting trade routes, while the expansion of BRICS countries introduces new dynamics. In addition, companies are diversifying away from China, driven by ongoing trade tensions, rising labor costs and concerns about supply-chain resilience.
Shipping industry trends in 2023
Due to longer-term factors such as inflation, increased interest rates and a structural shift of consumer spending patterns from goods to services, cautious consumer spending in 2023 is likely to extend into 2024. Households are expected to prioritize esse