MSC CEO Soren Toft predicts positive signals for the global economy from trade demand in the coming months, with the second quarter of 2023 likely to show positive signs of trade moving. Despite high inventories in North America and Europe, he expects a rebound in freight orders once they taper down.
MSC, with a 17.5% market share in container traffic, is expanding its fleet and its presence in the United States and Vietnam.
MSC’s port operating subsidiary, Terminal Investment (TIL), is opening new container terminals in New Orleans and the Port of Baltimore.
Meanwhile, the Can Gio port project in Vietnam is set to be fully operational by 2040. Toft also sees a more distributed supply chain emerging, with sourcing happening in more locations, including China, Southeast Asia, and India.