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Container shipping market shrank by 8% in February

09 April 2019
Logistics News

The global demand for container traffic in February was 11.55 million TEU, which is 7.75% less than a year earlier and 18% less than in January, TASS reports.

According to estimates of the statistical service Container Trade Statistics (CTS), the index of rates fell by 2 points over the month to the level of 68. This is one point less than last year's value.

Exports from Asia and North America showed the strongest decline YoY: -13% and -9%, respectively. Exports from Europe are the only segment in which growth was recorded - + 4.4%.

The data for February may represent a somewhat distorted picture, as the Chinese New Year has a strong influence on the market, when factories close for a two-week vacation, and accordingly, demand always increases in its run-up. Lunar New Year was celebrated in February both this year and last year, but this year almost two weeks earlier.