GLOBAL CONTAINER VOLUME growth hit 6% in 2024 and an Australasian trade was a notable and surprising standout.

In its just-released summary of the past year London-based Container Trades Statistics Ltd recorded a total of  183.2 million TEU transported by sea, with three months of 2024 – May, August, and December – each surpassing 16 million TEU, a first in history.

“This impressive achievement contrasts sharply with the relatively flatter year seen in 2023, which was impacted by the post-COVID rush and stockpiling in 2022,” CTS said. “Given the consistency of these high volumes, can this momentum continue into 2025, given present global uncertainties?

North America demonstrated the most significant growth in imports for 2024, increasing by 12% year on year. Although still in third place for regional imports, North America is rapidly closing the gap with Europe, which held the second position for 2024, CTS said. In contrast, North America experienced a -5% decline in 2023 compared to 2022.

Far East exports to North America were up by 14%, with Los Angeles continuing to be a primary port, handling over 90% of cargo from the Far East. (NB CTS groups North & East Asia and South East Asia as a single region.)

Far East exports were the highest-performing sector of 2024, increasing by 8% from 2023 and by 10% from 2022. The Far East accounted for an impressive 61% of the global export mix, up from 59% in 2023.

“This growth was particularly notable in dry goods, though reefer volumes also showed strong performance, being the second largest reefer exporter after South and Central America, which continues as the largest transporter of refrigerated cargo.

“The region’s export growth to North America remains dominant, Europe and the Indian Sub-Continent & Middle East exports from this region have shown significant increases. Europe saw a 9% rise compared to 2023, while the Indian Sub-Continent & Middle East increased by 12% year on year and 35% compared to 2022.”

In what CTS classifies as ‘emerging trade lanes’ Australia & Oceania to Indian Sub-Continent & Middle East starred.

“While Australasia & Oceania exports generally lag behind other regions due to their geographical size and location, 2024 saw remarkable growth in exports to the Indian Sub-Continent & Middle East. This trade lane grew by an impressive 34% compared to 2023 and 58% compared to 2022. The majority of this growth is attributed to India, where imports have more than doubled from 2022 to 2024,” CTS reported.

Despite the overall positive outlook, not all countries saw growth. Germany’s exports experienced the largest decline in 2024, falling by 4%. This marks a continuation of the negative trend from 2023, which saw a 3% drop in exports compared to 2022, primarily due to reduced volumes to China.

In conclusion, CTS said, 2024 has been a highly successful year for global container volumes, with North America and the Far East playing pivotal roles in the growth.

“As we look ahead to 2025, several questions remain: will the impressive volumes seen in 2024 continue, or will growth begin to level off? Will new emerging markets, such as India, continue to rise? One thing is certain—the market has proven its resilience. Despite challenges posed by pandemics, economic uncertainty, and political changes, the global container market continues to adapt to its circumstances.”