(Lars Jensen – SeatIntelligence via LinkedIn)
Container Trade Statistics have published their global data for March, and we continue with mixed signals for the container industry.
Global volumes in Q1 2017 are up by 10% compared to Q1 2016. In itself a fantastic start for the year, and just the type of news the industry needs to proceed down the journey of absorbing the overcapacity. This can only be seen as positive.
CTS’ global freight rate index, however, is down by 6% in Q1 2017 versus Q1 2016, and March 2017 is on par with March 2016. When evaluating this, it must be kept in mind that according to Bunkerworld, the fuelprice was 155 in Q1 2016 versus more than a doubling to 330 USD/ton in Q1 2017 (basis Hong Kong and Los Angeles).
In other words: Volumes show very solid growth, yet the global freight rate index declines despite a doubling of fuel prices. Click here to read more.