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Impressive March global container volume highlighted market strength in recent months
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The March volume reached 16.194 million TEUs, the second-highest ever seen in the Container Trades Statistics database
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The latest figure follows closely the record set in December 2024 of 16.199 million TEUs
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While volumes remain robust, the global price index has continued its slow decline since the beginning of this year, falling by 15% year-to-date
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The softening of the global price index suggests there may not be another month as strong as March for some time
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Q1 2025 has been a robust quarter for the container shipping industry overall, with volumes up by 4.2% compared to the same period in 2024
The impressive March global container volume highlighted strength of the market in recent months despite challenges in an ever-changing sector. Two record-breaking months occurred within the past four months, based on the latest Container Trades Statistics data.
March volume hit 16.194 million twenty-equivalent unit (TEUs), the second-highest ever seen in the CTS database. It follows closely the record set in December 2024 of 16.199 million TEUs.
However, while volumes remain robust, the global price index has continued its slow decline since the beginning of this year, falling by 15% year-to-date (YTD). The index now stands at its lowest level since June 2023, when it stood at 79 points.
When examining import performance across regions for Q1 2025, all regions experienced either stabilization or growth, with the exception of Australasia and Oceania, which saw a YTD decline of 3% compared to 2024.
The pullback appears to be a result of decreased exports from North America to the region.
The best-performing import region for Q1 2025, compared to Q1 2024, was Sub-Saharan Africa, which saw an 8% hike. This growth was supported by strong volumes, particularly from North America.
Imports into the Far East remained flat, with no year-on-year (YoY) growth. However, with over 16 million TEUs lifted in Q1 2025 and 2024, this plateau is not surprising.
On the export side, Q1 2025 has shown mixed results, according to the CTS report.
Despite a strong performance in imports, Sub-Saharan Africa experienced a 5% decline in exports YoY, the second-largest drop of any region. This reduction equates to approximately 46,000 TEUs for the quarter, likely driven by decreased exports to the Far East, Indian Sub-Continent & Middle East, and Australasia & Oceania.
On a positive note, South & Central America has seen an astounding 20% YoY increase in imports from Sub-Saharan Africa.
Meanwhile, exports from North America to other regions fell, with a 6% drop in Q1 2025 compared to the same period in 2024. The largest reduction from this region was seen in Far East exports, with a decrease of over 170,000 TEUs in Q1 2025 compared to Q1 2024.
Far East exports, however, have shown the strongest growth in the first quarter of this year, rising by 7% YTD compared to 2024 and by nearly 16% YTD compared to 2023.
As political and economic developments continue to shape the trade, “it will be interesting to monitor how these factors influence the strength of Far East exports as we move into Q2 2025,” said CTS.
In summary, Q1 2025 has been a robust quarter for the container shipping industry, with volumes up by 4.2% compared to the same period in 2024. Despite external factors such as the impact of Chinese New Year, the reorganization of shipping alliances, and the shorter month of February, volumes have performed strongly.
On the other hand, the ongoing softening of the global price index suggests that there may not be another month as strong as March for some time.
“At the onset of Q2 2025, the container shipping industry continues to face uncertainty, and there is no sign so far of a ‘new normal’ emerging,” said CTS.
READ: Container volumes in Jan remain strong despite challenges – CTS
