<p>Q1 2023</p>
DEMAND
Global inbound volume drop has affected Far East exports, with January seeing a 13.9% decline. Compared to January 2019, Far East exports are down by 6.3%. Intra-Asian volumes, previously resilient, are now underperforming. This is visible in the world's largest trade, which saw volumes decrease by 375,000 TEU (-9.8%).
In both percentage and absolute volumes the biggest year-on-year decline was for imports into North America. These are down by almost a fifth from last year (-19.7%). Despite this decline with imports of 2.3 million tonnes it remains the region with the most inbound volumes.
As expected, Far East exports dropped by 13.9% in January due to the global decline in inbound volumes, and they are also down 6.3% from January 2019. Intra-Asian volumes are now underperforming and have dropped by 375,000 TEU (-9.8%) in the world's largest trade.
Reefer volumes have continued to perform better than dry containers, with a growth of 3.7% in January. South America, the largest exporter of reefers, experienced a slight increase of 0.6% from January 2022, driven by growth in the East Coast, which increased by 4.6%