NYK Outlook, Global Containerized Cargo Movement Slows in 2022

NYK held an online briefing for the press on the occasion of the publication of "Global Container Transport and Service in 2022," and indicated that containerized cargo movements in 2022 are expected to be "on a par with or below the previous year's level. The report pointed out that the growth in cargo movements from Asia to Europe and the U.S., which had continued since 2021, had slowed down this year, as cargo movements from Asia to Europe and the U.S. declined sharply from September onward. Behind the downward trend in freight rates accompanying the decline in cargo movement are declining consumption due to global inflation, Russia's invasion of Ukraine, China's blockade of cities, and strikes by dockworkers. A representative from the company's research group noted that the growth rate of global containerized cargo movement grew by 6.3% in 2021, and cargo movement remained strong on all routes, but the situation changed significantly in 2022. The survey indicated that the future trend of cargo movement is expected to be flat or declining.