Container flows better than expected
The RWI/ISL Container Throughput Index, which measures global shipping activity, performed better than expected in December 2023, seeing a slight slowdown to 125.1 points from 125.4 points (revised) in November.
Container throughput in Chinese ports decreased slightly, with the index value falling from 137.4 to 136.9 points. The European North Range Index made good progress, showing a significant rise in December to 102.3 points compared to the 101.3 (revised) in the previous month.
With regards to the development of the container throughput index, RWI economics manager Torsten Schmidt commented: “Global container throughput appears to be stable at the end of the year despite the renewed burdens caused by the attacks on cargo ships in the Red Sea.”
But he pointed out that freight rates had indeed increased because of the attacks. He added that he saw no turnaround in Europe: "Although the North Range Index has risen, we do not expect any significant improvement in the economic situation in Europe.” The RWI/ISL container throughput index for January 2024 will be published on 29 February 2024. (cd)