Containers are up by 15%; air cargo is down by 2%
We are sharing the latest version of the cargo report.
Some highlights discussed this week include the following:
1. Global economy and global containerised trade:
a. The WTO now projects global merchandise trade will grow by +0,9% in 2025, from a previous -0,2% contraction, though still well below pre-tariff expectations.
b. Global container throughput fell -3,4% (m/m) in June after a record May, yet remains +2,6% higher year-on-year (US Imports up by +7,3%). Sub-Saharan Africa’s imports surged +24% (y/y).
c. Other developments of note include (1) the US rejecting the IMO net-zero framework, and (2) the US extending a 90-day pause for reciprocal tariffs on Chinese imports.
2. South African air cargo for July:
a. International air cargo volumes decreased m/m at Johannesburg (-2%) and Durban (-3%), but increased at Cape Town (+15%). The collective YTD cargo is up by +4% (y/y).
b. Domestically, July volumes increased drastically m/m for all terminals & y/y (except for Cape Town).
c. Operationally, handlers are still waiting for feedback from ACSA regarding leases, while a Pretoria High Court ruling has clarified that the ASLC may not impose race-based criteria in licensing decisions.
