News
Global containerized output expanded for the seventh successive month in October, based on annual comparison, with the rate of growth recouping the momentum temporarily ceded in the previous month. In particular, U.K.'s Container Trades Statistics (CTS) aggregated volume data survey showed that global containerized exports in October reported a 6.45% increase to 10,770,800 TEUs, the highest lift since July.
Manufacturing production continued to rise at a solid clip, with demand for containerized cargo remaining strong following the Chinese Golden Week factory closures in September.
Total exports from Asia (including Intra-Asia) to all overseas markets monitored by CTS surged again. Overall, these grew by a notable 8.41% to 5,980,800 TEUs compared to last year, which is the best year-on-year performance since January and also the best October performance in two years. With the exception of the North America and South and Central America markets, exports from Asia to all other markets maintained their upward movement, particularly to the Indian Sub-Continent and Middle East market.
In the opposite direction, the outlook for containerized imports from all overseas markets into Asia (including intra-regional cargo) remained particularly robust. October figures show that total imports went up by 12.39% to 4,236,300 TEUs, compared to a year earlier, which is the best lift since January. Imports from all overseas markets went up, but especially from Europe and Sub Saharan Africa.
