A.P. Moller-Maersk, a prominent shipping group, issued a warning on Friday of a more significant decrease in global demand for shipping containers by sea this year.

The drop is attributed to sluggish economic growth and customers opting to reduce their inventories.

As one of the largest container shippers globally, with a market share of approximately 17 percent, the company now anticipates a potential decline of up to 4 percent in container volumes.