Photo Credit: Leo Johannes / Wikimedia
The MV Luna Maersk assisted by tug RT Pioneer at Bremerhaven, May 16, 2009

The Copenhagen-based Maersk shipping group warned Wednesday that demand for transport and logistics is slowing amid a looming global recession the company expects to continue into 2023.

“It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and easing of supply chain congestion,” Maersk CEO Soeren Skou said in a statement.


“With the war in Ukraine, an energy crisis in Europe, high inflation and a looming global recession there are plenty of dark clouds on the horizon,” he said.

Company shares were down 4.4 percent at 0839 GMT, with the firm predicting a two to four percent drop in global container demand this year, Reuters reported.

Maersk is one of the world’s largest container shippers, and is seen by many as a barometer of global trade.


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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for, and other media outlets, in addition to her years working in broadcast journalism.