Weekly container volumes are up by 25%; air cargo is down by 4%
Good afternoon, colleagues and interested parties
We are sharing the latest version of the cargo report. Some highlights discussed this week include the following:
1. South African Containerised throughput rebound:
a. A much improved average of ~11 547 TEUs (+25%) was handled per day for the last week (17 to 23 March), slightly above the projected average of ~11 381 TEUs (+1% actual versus projected).
b. The rebound in volume after last week’s low numbers has been welcomed.
2. Request for Information (RFI) process on key corridors launched:
a. The RFI invites expressions of interest in three strategic corridor projects:
(1) the Northern Cape to Saldanha and Nelson Mandela Bay bulk mineral corridors, focused on iron ore and manganese exports;
(2) the Limpopo and Mpumalanga to Richards Bay corridor, covering coal, chrome, and magnetite exports; and
(3) the Intermodal Supply Chain project, targeting container and automotive logistics across key port-city connections.
3. Container freight rates continue to fall:
a. Carriers have shown little appetite for curbing market share to support rates, as cancellations were mainly driven by congestion.
b. Drewry’s “World Container Index” dropped another -4,4% (or $104) and now trades at $2 264 per 40-ft container.
c. For South Africa, the narrative is similar, albeit slightly more pronounced. The Shanghai Containerised Freight Index (SCFI) from Shanghai to Durban is currently trading around $4 400 per 40-ft container.