The Business Times
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Year-end peak shipping season expected to be flatter amid global headwinds

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Derryn Wong

Derryn Wong

Published Tue, Sep 26, 2023 · 05:00 AM
    • The Panama Canal handles 5 per cent of the world's trade, and a historic drought has led to traffic jams. Industry observers say this may contribute to a flatter peak shipping period in 2023.
    • The Panama Canal handles 5 per cent of the world's trade, and a historic drought has led to traffic jams. Industry observers say this may contribute to a flatter peak shipping period in 2023. PHOTO: BLOOMBERG

    THIS year’s peak shipping season may be more of a plateau, said industry players, as macroeconomic conditions limit retail spending and retailers continue to hold excess inventory.

    “We don’t expect a classical peak-season surge in the fourth quarter, even though we foresee market improvements in the next few months,” said Niki Frank, chief executive of DHL Global Forwarding Asia-Pacific.

    “Since we are not ruling out a modest increase in demand during the run-up to the turn-of-year holidays, shippers should still be mindful and be prepared to cope with larger volumes towards the end of the year.”

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