According to new data published by Container Trade Statistics (CTS), global container traffic in 2024 was 183,158,193 teu, representing a 6.2% increase compared to 2023.
According to CTS, global volumes reached 16 million teu in December, up 4.5% from November and 6.6% compared to December 2023.
“This makes December the second-highest production month of the year after August, which set a record 16.1 million teu…reflecting overall capacity at the end of the year,” CTS said. “December 2024 showed resilience, maintaining significant volumes despite uncertainty in global trade.
“As we approach 2025, questions remain about potential route deviations and tariff increases.
“It will be crucial to watch how these factors impact global trade dynamics in the first quarter,” it added.
For much of last year, volume growth was largely driven by demand in North America: December Far East and North America traffic exceeded 2 million TEUs, an 8.6% increase compared to December 2023, while full-year trade volumes on both the East and West coasts of North America reached 24.1 million TEUs, 13.2% higher than 2023 and more than double the global average.
Meanwhile, exports from the Far East remained stable in December, showing a 5.3% increase compared to the previous month, reaching 9.8 million. TEU.
“The strength of exports is primarily driven by demand from North America, as well as South and Central America,” CTS said.
“Given the political changes in the US… and the potential emergence of new trade policies, it will be interesting to watch the resilience of Far East exports,” it said.
It was also an exceptionally strong month for Far East-European trade, with European imports from Asia totalling 1.7 million TEU, up 10.4% on the previous year, and capping a year in which 18.3 million TEU were shipped from Asia to Europe, up 11.9% on 2023.
The CTS Global Price Index, which captures both contract and spot rates paid over the past year, “seen a modest increase of 2 points in December, continuing a steady upward trend since October, and now stands at 96 points.
“Notably, the index is 25 points higher than December 2023 but 25 points lower than December 2022, underscoring the ongoing market volatility and price adjustments,” CTS said.
However, there were some wild swings between deals. The price index for trade to the Far East and Europe in December was 128, double the level of December 2023 (62), while the Far East and North America price index for December was 42.3% higher than a year earlier.
And after lagging behind 2023 prices for most of the year, the price index for the transatlantic Europe-North America route ended December about 37.4% higher than a year earlier.