Press Release H1 2024

Container Trades Statistics (CTS) Global Container Press Release H1 2024

Container Trades Statistics (CTS) will unveil its comprehensive global container volume data for June 2024 tomorrow, August 7th. The figures for the first half of 2024 offer a valuable opportunity to examine the significant shifts in the market. Despite rising global freight rates and ongoing disruptions, container volumes have remained robust, highlighting the resilience and adaptability of the shipping industry despite these challenges.

CTS price index shows the true freight impact of the Red Sea Crisis

The June 2024 Global Price Index has risen by eleven points to reach a level of 100, reflecting a 12.4% month-on-month increase across all freight types. This is the first time the index has reached this level since February 2023. Since December there has been a 40.8% increase in the index, reflecting the true level of freight movements since the Red Sea disruption began.

1h24 volumes up 6.3% year-on-year

In June 2024, global container volumes reached 15.7 million TEUs. This marks a modest decline of 1.7% from May 2024. Compared to June 2023, there has been a notable 6.3% rise in volumes, reflecting ongoing strong demand despite challenging circumstances. Year-to-date, June 2024 volumes are up by 7.1% compared to the same period last year.

Far East and North America boom, Europe lags

The data highlights impressive growth in imports across various regions. The Indian Sub-Continent and Middle East have experienced a significant 7.4% increase in import volumes, reaching 10.2 million TEUs in the first half of 2024. This growth is particularly pronounced in trade with the Far East. The other region exhibiting strong import performance is North America, which has seen a 14.3% rise for the same period.

On the export front, the Far East stands out with a 9.4% increase in volumes for the first six months of 2024. Sub-Saharan Africa has also shown strength with a 10.2% increase. In contrast, Europe has experienced slower growth, with only a 2.2% increase, indicating a more modest pace compared to other regions.

For a more detailed analysis of specific regional trades and to gain further insights into our findings, please contact us on sales@containertradesstatistics.com