• TPM24
  • March 3-6, 2024 | Long Beach Convention Center

Nigel Pusey

CEO, Container Trades Statistics and Non Executive Director, Maritime and Coastguard Agency

Nigel has worked his whole career in the global shipping business. He has previously worked as Chief Commercial Officer with Maersk Line in Copenhagen. Nigel also served as CEO of Container Inland Services, a division of the AP Moller–Maersk Group. He has also served as CEO of The Maersk Company Limited (UK) and Non-Executive Chairman of INTTRA. He has served as Chief Commercial Officer of Inchcape Shipping Services.

Prior to joining AP Moller–Maersk, Nigel worked for P&O Nedlloyd and P&O Containers in numerous roles including Corporate Finance Director for the P&O Nedlloyd group as well as Managing Director of Southern Africa.

Sessions With Nigel Pusey

Tuesday, 28 February

  • 03:15pm - 04:00pm (PST) / 28/feb/2023 11:15 pm - 01/mar/2023 12:00 am

    Trade Lane Deep Dive: Asia-Europe
    Carriers on the Asia-Europe trade are sailing into a year when the economic and geopolitical challenges are deepening, with growing uncertainty on both the supply and demand side of the container shipping business. Russia’s ongoing war with Ukraine has resulted in huge hikes in energy prices, creating runaway inflation across Europe that has left consumers struggling with a cost-of-living crisis expected to extend through 2023. This already has dampened demand for containerized transport through an anemic 2022 peak season —North Europe imports from China fell 10 percent in the July-September seasonal peak — and there are no expectations of the traditional surge in volume ahead of Chinese New Year on Jan. 22. Carriers are trying to match capacity with falling demand by blanking sailings in an aggressive program in which they withdrew 1.6 million TEU in the last four months of 2022, and some analysts warn that a rate war is possible. As economic and geopolitical headwinds strengthen, this session will dive into the Asia-Europe supply-demand fundamentals to examine the host of factors stacking up to undermine the stability of the trade lane, including capacity flooding back into the market, tanking demand, and rising COVID-19 infections in China ensuring no change in Beijing’s lockdown approach to the pandemic. 
  • 04:00pm - 04:45pm (PST) / 01/mar/2023 12:00 am - 01/mar/2023 12:45 am

    Trade Lane Deep Dive: The Trans-Atlantic
    The trans-Atlantic has traditionally been a stable trade lane, and as the world finds its footing following the COVID-19 years, that reputation has not only remained intact, but it has been further entrenched. In 2022, the trans-Atlantic became the most profitable of the east-west trade lanes, according to Alphaliner, with sustained demand and elevated rates driving up the average per-mile revenue while the trans-Pacific and Asia-Europe routes struggled with fast-eroding volume and precipitous price declines. Heavy congestion at ports on both sides of the Atlantic was a feature of the trade lane throughout 2022, and the bottlenecks in North Europe and on the US East Coast remained deep into the fourth quarter, keeping ship utilization high and propping up rate levels. But the rally won’t last forever. Indeed, deteriorating economic conditions and rising inflation in the US are expected to put the brakes on demand, while port congestion will no longer delay vessels, and rates will fall. When trans-Atlantic demand and rates will return to normal — or what that normal will look like — is difficult to predict but few in the industry expect the bull run to extend deep into 2023.
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