Per the article headline
- Falling container volumes
- Traffic shift to East coast (NY overtook Los Angeles and Long Beach on volume)
- Congestion has eased on West coast ports
- Pricing transparency
Etc,
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Interesting timing for this reporting with Christmas supplies in already.
Wall Street Journal had article yesterday reporting the end of long lines of ships waiting to dock at west coast ports.
That should let ocean shipping ports catch up and return to normal. That implies an end to double ordering and over stocking. But also double orders being cancelled. Another indicator of a slowing economy.
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ZIM is the only Top 10 liner company with a major US exchange listing. On Friday, my perusing had me check #2 liner entity - Maersk. The company trades on the Copenhagen exchange and OTC market in the US. Share price has slumped from about 24000 DKK (Denmark Krone) to 15745 DKK on 10/21/22. Start of year was near its highs
https://www.google.com/search?q=maersk+share+price+%2B+copenhagen&rlz=1C1SQJL_enUS804US804&oq=maer&aqs=chrome.0.69i59l2j69i57j69i59j46i67i199i433i465j0i67i433j46i67i199i433i465j0i67l2j0i67i433.5470j0j15&sourceid=chrome&ie=UTF-8