Container carriers transported more than 13.8 million TEUs for the month, boosted by strong growth in exports from Asia and imports to North America, according to the latest data from Container Trade Statistics (CTS).
Global transport volumes of containerized cargo grew 5.1 percent to more than 13.8 million TEUs in January 2018 compared with the same month a year ago, boosted by strong growth in exports from Asia and imports to North America, according to the latest data from industry analyst Container Trade Statistics (CTS).
Containerized exports from Far East Asia increased 6.2 percent year-over-year to 8.1 million TEUs for the month, while import volumes were relatively steady, slipping just 0.3 percent to 5 million TEUs.
In North America, container export volumes slid 5.8 percent to 1.2 million TEUs, but the decline in exports was more than offset by a 12.7 percent jump in imports to 2.5 million TEUs.
European export and import volumes were both largely unchanged from the prior year period, with imports inching up 0.8 percent to 2.7 million TEUs and exports sliding 0.4 percent to just under 2.2 million TEUs.
The year-over-year increase in global volumes couldn’t come at a better time for carriers, as they prepare to go to the negotiating table with shippers and NVOs to lock in their 2018 contract rates. International trade demand seems to finally be catching up with available container shipping capacity, something carriers are hoping will translate into higher rates and sustained profitability after a year in which the market rebounded from a disastrous 2016.
CTS: Global box volumes rise 5.1% in January
