Maersk forecasts global trade growth of 5-7% in 2024, driven by strong U.S. demand despite challenges like potential port strikes and increased tariffs on foreign-made goods.
According to a Reuters report, Charles van der Steene, Maersk’s North America regional president, expressed confidence in these projections during the Reuters NEXT conference, stating, “At this stage, there’s nothing that would indicate that it could not be the case.”
The United States, Maersk’s largest market by sales, remains a key driver of demand. This is supported by pre-ordering activities among U.S. companies in anticipation of tariffs and a potential dockworker strike on the East Coast, now postponed until January. The National Retail Federation has reported record-breaking inbound cargo traffic in November and December due to these concerns.
Disruptions in the Red Sea caused by Houthi attacks are also influencing global trade, with Maersk expecting these issues to continue into 2025. Van der Steene emphasized that Maersk is actively assisting customers in planning ahead, sometimes as far as two months in advance. This includes analyzing optimal shipping routes—whether to the Northeast, West Coast, or via air freight—based on product type and company risk tolerance.
Rerouting products can involve significant costs and delays, especially for seasonal items. However, Maersk is helping businesses mitigate these risks by evaluating order patterns and proposing strategies to manage disruptions. “We help them to define… how do we help you mitigate the risk as much as possible?” van der Steene explained.
