b"MAY 15 - JUNE 25, 2023BREAKBULK QUARTERLY 11ACL AJOT_SailSchedule_2020_ACL2/27/209:33 AMPage 1(SPIKEScontinued fromstructurelaw,theInflation page 8) populationdeclinesReductionAct,andexpand- ONE SHIPChinastoconsumption- ingenergyproductionareONE SHIPandmovesallexpectedtocontributeto drivengrowth,itscontribu- demandgrowthintheU.S., tiontoglobalsteeldemandaccording to Worldsteel.growth will lessen. Chinas neighbors in AsiaC ontainers, RORO, RORO, Br, Breakbulk Ceakbulk CarargogoContainersThepropertysectorinrepresent better potential export China is a major consumer ofmarkets. The Indian economy, steel, but all key real estateaccordingtoWorldsteel,will indicators are in deeply nega- seehealthygrowththanks tive territory, noted a recenttogovernmentinfrastructure Worldsteel report. Floor spacespending,strongerresiden-of newly started projects andtialhousingdemand,invest-totalrealestateinvestmentsmentsinrenewableenergy, areshowingsteepdeclines,andspendingonautomobiles the first year-on-year declineand consumer durables. World-in 25 years. The organizationsteel expects demand in India expectsaslightpickupinto grow by 7.3% in 2023 and the real estate sector this year6.2%in2024.TheASEANA SERVICE AL1 SERVICE AL2 SERVICE RORO Customer Service877-918-7676duetogovernmentsupportnationsalsorepresentbrightCuto Friday Cuto Thursday Cuto Monday Export Customer Servicemeasures, with a moderatespots,wheresteeldemandisFROM NEW YORK LOLO RORO LOLO LOLO 800-225-1235recovery expected to continueexpected to increase by 6.2% inTO Transit Time Transit Time Transit Time Transit Time Export Documentation ANTWERP 1620 18888-802-0401in 2024.2023 and 5.7% in 2024, fueledDUBLIN 12 At the macroeconomic level,by major projects such as build- BELFAST 13Import Customer Service888-802-0403the Chinese economy saw 3%ing Indonesias new capital inGTEBORG 21LogisticsSkysTheLimit2.pdf 1 12/13/2021 3:07:20 PMgrowth in 2022, well short ofEastBorneo,developmentofHAMBURG 13 17 15 22 866-821-7449LE HAVRE17the governments 5.5% goal.long-distancerailwaysintheLIVERPOOL 9 13 Credit & CollectionsAnd, according to a report inPhilippines,andinfrastructureLONDON GATEWAY20 19 888-225-7747Foreign Affairs, the real ratespending in Vietnam.ROTTERDAM11 20mayhavebeenworse,as official statistics are increas-ingly dubious. l ong -t eRMp RoSpeCtSLong-termprospectsfor economicgrowthunderany scenario,accordingtothe report,willnotmatchChi-nasgrowthratessinceit embracedeconomicreforms in the late 1970s. As a United Nationspopulationreport noted,Chinaspopulationis aging,anditsworking-age population is shrinking. Inaddition,arashof businessandbankdefaults, fiscalshortfallsforheavilyAt the Port of Baltimore, the sky's the limit. indebtedlocalgovernments, and falling returns on invest- Neo-Panamax cranes. 50-foot deep berths. No supply chain congestion.ment, according to the For-eign Affairs report, all point toslowergrowthincapital investments. Besidesallthat,Chinese governmentpolicyisnow Cmoving in the wrong direction. MChineseofficialssanctioned Ymorestatecontrolandmore CMadministrativeinterventionin theallocationofcapital,the MYForeignAffairsreportstated. CYIf leaders remain fixed on stat-CMYism, the growth rate might rise Ksomewhatforayearortwo, butthenitwillfalltopoten-tially 2% or lower in the second halfofthisdecade.IfChina re-embracesreform,growth would drop even lower through themediumtermbutcould then climb back to potentially 4% as 2030 approaches.In either case, the report concluded, Chinas days of super-high growth are over.Ifthereisasilverlining forChinassteelindustry,it isthatglobalsteeldemand is expected to grow this year andnext.Worldsteelexpects steeldemandindeveloped economies to increase by 1.3% in2023and3.2%in2024. DemandgrowthintheU.S.,marylandports.com 1.800.638.7519at1.3%in2023,willmatch global growth, but the expectedMaryland Port Administration Executive Director William P. Doylegrowth rate of 2.5% in 2024, will fall short. The 2021 infra-"