As firms making goods from apparel to electronics hold excess stock, there's less of a demand to ship products.
This means some vessels are waiting in ports because of sailings being "blanked," or canceled.
"We are arranging a contingency plan with alternative services," MSC added.
"If you fly to Singapore, you'll see all these ships outside the port … A lot of ships are parked there waiting till there are better yields," he added.
Excess stockFlexport, which is at 10th place in CNBC's Disruptor 50 list, regularly surveys customers on how much stock they're holding.
Persons:
Andrew Merry, It's, Sanne Manders, there's, Manders, Bernstein, Niels Rasmussen, Rasmussen, it's, Simon Heaney, Heaney
Organizations:
MSC, CNBC, CMA CGM, Maersk, Baltic and International Maritime Council, Shanghai Shipping Exchange, Blank, Drewry
Locations:
Singapore Strait, Asia, Europe, —, Singapore, East, North Europe, CNBC's