Declining trade tests shippers patience

Trade volumes have continued to fall in the second half of 2022 and service levels have remained at historic lows, according to the Global Shippers Forum (GSF)/MDS Transmodal Container Shipping Market Review.

Despite trade volumes of goods capable of being transported in containers continuing the decline observed at the end of Q2, the drop in overall volumes was much less than reported by the container shipping sector.

This has been attributed to commodities, such as coffee, scrap metal, and plywood, that can also be carried in bulk or semi-bulk form have switched away from containerised movements where shipping rates remain relatively high.