- September container volumes dropped significantly across most trades, especially on Far East-Europe routes.
- August marked a record high in volumes, but September saw the year’s first decline.
- Transatlantic and Middle East/India trades showed resilience amid global slowdowns.
New data from Container Trade Statistics (CTS) shows that strong July and August volumes marked an early peak for transpacific and Asia-Europe trades, with September revealing a decline in container shipments globally, reports Loadstar.
Global Container Volume Drops by 5.9%
Globally, transported container volumes fell by 5.9% in September compared to August, reflecting a notable shift following a record-breaking August.
The Far East-Europe trade saw the most substantial drop, with a 13.5% month-on-month decline, reducing volumes to around 1.4 million TEUs.
Volumes on the transpacific eastbound route fell 9.1%, bringing shipments to just under 2.1 million TEUs.
Record August Volumes Still Keep 2024 Totals Positive
Despite the September drop, August’s record-setting global volumes make 2024’s year-on-year totals over 2% higher than last year, as noted by CTS.
Contrasting the global trend, the Europe-North America route grew slightly, while the Middle East/India-Far East trade grew by 7.1% to 260,000 TEUs, surpassing the India-Europe trade.
Price Index Falls Alongside Volume Decline
CTS reported an 11-point decrease in the September price index, driven by the volume drop. This reduction marks the most significant monthly decline in pricing this year, bringing it close to June levels.
The rates on the transatlantic Europe-North America route saw a slight increase due to the ILA-USMX labor negotiation deadline on September 30.
Market Stabilization Amid Political and Economic Pressures
According to CTS, the market is stabilizing despite disruptions from global political factors and regional port labor issues.
As the year-end approaches, CTS anticipates the container market’s resilience will be tested amid ongoing geopolitical and economic uncertainties.
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Source: Loadstar
