The prospects for the containerized shipping market are as follows: very uncertain, with analysts and observers not agreeing on the duration of the current recovery in the value of freight rates, which is mainly attributed to the geopolitical crises and, in particular, the decision to companies to avoid the Suez Canal and attacks on the ships by the Yemeni Houthi rebels in the area of the Bab el-Mandeb Strait, diverting their traffic around the Cape of Good Hope, a change of course that involves the field with increased hold capacity and delaying impact on the market for entry into new capacity fleets.

According to the China COSCO Shipping Corporation shipping group, A new downturn in the market, if it occurs at all, is not next. On the occasion of the "Capital Markets Day", held Yesterday in Shanghai, the Chinese group explained that the growth in of the value of sea freight rates is attributable to the recent Steady increase in demand in the European and American markets accompanied by the absorption effect of the new capacity to be delivered this year due to the decision of the companies to round the Cape of Good Hope, resulting in increased duration of voyages and investment in vessels. Approximately the impact that the input on the new capacity market, COSCO representatives said that the new container ships that the group will take to be delivered in the period will facilitate the achievement of savings scale, while also allowing resources to be concentrated on ships that offer greater efficiency and increase competitiveness.

COSCO representatives explained that this situation is also having an effect on the production of containers that the company It expects to grow over the course of 2024, with selling prices which should increase progressively as the group, this market has entered a stable recovery phase. If a end of 2023, the year in which production was approximately 2.3 million TEUs with a decrease of -39.9% on the year previously, the world's container fleet was of approximately 51.4 million TEUs, COSCO specified that the expected production growth is expected to bring the size of the fleet to 58.5 million TEUs by 2028.

With regard to container traffic handled in ports, business segment in which the Group operates through the subsidiary COSCO Shipping Ports, COSCO believes that in 2024 the container traffic in domestic ports will continue to growth steadily, with an effect of domestic demand that will be more evident than that of the international. COSCO expects a smaller increase in traffic in European ports, in which, however, in 2024 the trend will return to positive (+3%) after two consecutive years of contraction. Particularly relevant - specified the representatives of COSCO - is the expected growth in ports of the Western Mediterranean, with an expected increase in the +6.5%, and also the growth rate of Europe's ports northwest is expected to be slightly above average around +3-4%. Also in North American ports A return to growth is expected, which should be expected this year be around +7% driven by the replenishment of stocks in the United States.