The last two years have seen major disruptions to the world supply system. One of the reasons for the high inflation that is now prevailing in the world is the disruption in the supply chain. But Maersk, a global freight forwarding company, says that’s not the end of the story.
‘We cannot yet say that it is time for the situation to improve,’ Maersk CEO Søren Skou told CNN. ‘Like everyone else, I had hoped that the situation would improve, but that does not seem very likely right now.’
Meanwhile, a record number of people are quitting jobs in the United States. This has further aggravated the situation. Finding workers for various US ports is now a priority. This is causing delays in everything from loading and unloading of goods to shipping to other countries.
However, the improvement or deterioration of the situation depends on the COVID-19 infections. Søren Skou hopes that countries will begin to lift COVID-19 related restrictions. The situation is expected to improve in the next few months as people are less likely to become seriously ill with Omicron, the new variant of the COVID-19 virus. Then these practical complexities will end and the transportation of goods will speed up.
Maersk expects the world economy to return to normal in the second quarter of this year. That’s why they are hopeful about their business being better in the first quarter of this year.
According to Maersk, in 2021, their revenue increased by 50% to USD 61.8 billion. At the same time, their profits have increased by USD 15.5 billion.
