European businesses brace for prolonged supply chain volatility, Maersk survey finds

Disruptions in global supply chains are expected to persist for at least another one to two years, according to a survey by shipping company Maersk of more than 900 European companies.

The survey found that more than 78 per cent of respondents anticipate geopolitical tensions, trade tariffs and international regulations will affect their operations, while nearly half expressed deep concern about the geopolitical climate. Four out of five said supply chain challenges are impacting business growth.

In response, businesses are diversifying sourcing strategies, strengthening relationships with logistics providers and key suppliers and investing in supply chain visibility and agility. “Now is not the time to lament the cards we’ve been dealt – now is the time to take action and grow,” said Aymeric Chandavoine, president Europe at A.P. Moller – Maersk.

Tariffs are the latest major disruption, Maersk’s Lars Karlsson, global head of trade and customs consulting, noted. “That left many supply chain managers without sleep at night,” he said of the U.S. import tariff package announced in April. “However, with the right tools and partners you can control even such a black swan event. You need to be proactive and become more agile in a geopolitical environment like today. To achieve this, you need full control of your global customs data, have it digitally in one central platform where you can blend it with the data of sudden tariff changes as they happen.”

According to the survey, 46 per cent of respondents expect fluctuations in import and export costs, 43 per cent foresee increased trade tariffs and 40 per cent cited uncertainty in global trade policies.