Hapag Lloyd CEO Expects Global Shipping Demand Growth Over Next Two Years

CEO sees box shipping volumes growing 3-4% annually from 2018 to 2019, lower than sector experts estimate due to geopolitical risks.

Hapag Lloyd also expects global demand to outstrip supply growth over next two years.

CEO also says ship scrapping activity has been picking up in recent weeks after almost no activity earlier this year. He adds that some global shipping demand may be pulled into 2018 to avoid fallout from US-China trade spat, but may also slow growth in first half of 2019.

Hapag Lloyd, he said, has no interst in investing in logisitcs, when asked about French rival CMA CGM's move to buy out shareholders in Swiss Transport Company CEVA

Reporting by Vera Eckert