Container port operators in mature economies face “very strong cost competition” from faster-growing emerging markets, the Financial Times quoted the head of APM Terminals as saying.

Kim Fejfer, head of the A.P. Moller-Maersk-owned port operator, said the cost competition was due to excess capacity and slowing growth rates as this year’s sharp rebound in container shipping cools off, according to the paper.

“If you operate with over-capacity, you are squeezed by your customers and you see very strong cost competition,” the paper cited APM Terminals chief Kim Fejfer as saying.

Fejfer said port congestion was returning in the fastest-growing emerging markets, but sluggish growth in the mature markets meant continued excess capacity in many ports, including New York/New Jersey and Antwerp.