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The global economy is in a completely different state than anyone thought

The global economy is in a completely different state than anyone thought

However, challenges remain for Hapag-Lloyd, particularly those resulting from the Red Sea crisis, which has resulted in additional climate costs related to higher container prices and the diversion of trade to new routes. The report found that these diversions are expected to increase spending as ships travel longer routes, burn more fuel and emit more carbon dioxide, impacting the company's sustainability goals. CNBC From his article.

The situation in the Red Sea, characterized by attacks on commercial shipping interests, remains a source of uncertainty, and Janssen admitted that it is difficult to predict how long this situation will continue. Meanwhile, Hapag-Lloyd is taking steps to address operational challenges by creating alliances, such as the recently announced Gemini alliance with Maersk, which aims to improve schedule reliability and operational efficiency.

Looking ahead, the peak shipping season is expected to start earlier than usual due to potential labor strikes at East Coast and Gulf Coast ports, as well as ongoing disruptions such as the Red Sea crisis and drought restrictions in the Panama Canal. Janssen expects activity to increase between June and August as U.S. shippers plan ahead to mitigate potential disruptions.

On the other hand, Rolf Happen Janssen told CNBC that the business outlook for the rest of 2024 is improving. Based on conversations with customers and other logistics companies, the shipping CEO is more optimistic about demand in the second half of the year than previous forecasts had predicted. In other words, he sees the global economy as being in better shape than it appears on the surface.

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Cover image source: Metrans

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