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November 2024’s global container volumes showed a slight decline of 1.6% from October, hitting 15.6 million
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Despite the month-on-month drop, volumes were still up by 5.3%
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Comparing year-to-date figures with 2023, the increase is even more impressive, standing at a 6% rise
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Throughout 2024, North American imports continued to demonstrate strong performance, driven mostly by demand from the Far East and the Indian Sub-continent regions
November 2024’s global container volumes declined 1.6% from October, hitting 15.6 million TEUs. Despite the month-on-month drop, volumes were still up by 5.3% from January to November, according to the latest report from Container Trades Statistics Ltd (CTS).
Compared to year-to-date figures with 2023, CTS said the increase is more impressive at 6%.
Throughout 2024, North American imports continued to show strong performance, driven mostly by demand from the Far East and the Indian Sub-continent regions.
November 2024 imports for the region rose by 0.2% from October, reaching a noteworthy 2.9 million TEUs.
CTS said “while the increase may seem modest, North America was the only region to report growth in imports during November, highlighting its resilience.”
Australasia and Oceania imports, on the other hand, dropped by 10.6%, after experiencing a steady upward trend since May.
On the export side, several regions showed year-to-date growth, with the Far East, Sub-Saharan Africa, and Australasia all showing hikes of 8.3%, 8.5%, and 7.9%, respectively.
But the Indian Sub-Continent and the Middle East experienced the largest declines in exports, with a 6% drop month-on-month and a slight 0.8% dip compared to November 2023.
The worldwide price index had a marginal one point rise, hitting 94 points in November 2024, representing a 25-point hike compared to the same month in 2023, when the index was at 69 points.
This was still 40 points lower than the 134 points of November 2022, when the industry emerged from the pandemic.
November 2024 “serves as a reflection of the evolving patterns that have shaped 2024,” according to CTS.
Meanwhile, the global price index stabilized, signalling a robust overall performance as 2024 drew to a close.
Despite some regional fluctuations, the market is adapting and maintaining its resilience, added CTS.
