By Samy Adghirni and Tara Patel

(Bloomberg) –French container line giant CMA CGM SA is seeing an across-the-board drop in shipping rates and a loosening of logistics bottlenecks in some regions as demand softens.

“What we’ve been seeing now for many weeks is a decrease of freight rates in almost all sectors,” Chief Executive Officer Rodolphe Saade said Friday in Algiers. “We expect that decrease to continue. I don’t think we’ll see a strong drop but rather a soft landing.”