Global growth in container fleets through new orders and building activity will outstrip shipping demand from next year and ease current market tightness, the chief executive of Hapag-Lloyd (HLAG.DE) said in an analyst call on Thursday.

“Over the upcoming 24 months, we clearly see that supply growth will outpace demand growth,” said CEO Rolf Habben Jansen after presenting figures for the first half of 2022.

Presentation slides he referred to predicted demand growth at 3% next year over 2022 and fleet growth of 7%.