The cyclical or short term trend is the down turn in the container shipping
volume , which has seen global port throughput falling for 5 consecutive months
since September 2022, driven by the destocking cycle in the US, soft housing
market in the US impacting particularly the housing related shipments, inflation
that reduces western consumers' disposable income, rising share of services
relative to goods in consumption.
The secular trend or the long term trend maybe the fall in China's contrib