Weekly container volumes reach an annual record and are up by 10%; air cargo is down by 10%
We are sharing the latest version of the cargo report.
Some highlights discussed this week include the following:
1. Record container throughput:
a. Led by Pier 2, more than 97 thousand TEUs were handled, 13% above target.
b. Encouragingly, it appears the hard work by all involved – from TPT personnel to logistics partners – together with the deployment of new equipment, improved cargo evacuation processes, and ongoing terminal refurbishments, is beginning to bear fruit in this critical sector
2. Global shipping stressors:
a. Geopolitical tensions: Iran’s proposed closure of the Strait of Hormuz threatens up to 3,4% of global container flows, prompting potential rerouting via the Suez Canal – Maersk has suspended Haifa port calls due to rising regional tensions, affecting feeder services.
b. Northern European congestion: Container volumes on the Asia–Northern Europe route have grown 17% in two years, with capacity up 11,7% (y/y), straining port operations.
c. Freight rates: After six weeks of increases, global spot rates have retreated slightly, reflecting volatility.
3. Lebombo N4 corridor dynamics:
a. High truck volumes at Lebombo: Cross-border throughput averaged 1 626 HGVs per day (+6%, w/w), operating above design capacity. Queue times and processing delays decreased slightly, aided by improved coordination and reduced congestion.
b. Annual rail maintenance impact: Rail movements to Maputo were limited, with only seven trains recorded prior to the shutdown. Maintenance operations will continue through month-end, temporarily shifting more cargo to road.
