Container volumes recovered slightly in May, with flash estimates showing a 1.4% month-on-month increase over April although it is still 1.6% lower compared to the same month last year. Year to date growth remains negative at -1.8% over the first 5 months of the year. The Indian sub-continent was one of the key bright spots with May volumes up 9.8% yoy. The 2 main Indian ports of Mundra and Nhava Sheva both recorded healthy volumes with YTD volume growth reaching 8.0% and 6.3% respectively. S
Shanghai reported total container volumes of 4.10m teu in May, for its strongest monthly performance so far this year. Although the May volumes were 20.5% higher than the corresponding period last year, the large increase was due to the 2-month COVID-19 lockdown in April and May 2022 which dragged down Shanghai’s volumes last year. YTD volume growth for the first 5 months of the year reached 4.4% but volumes remain well below the 2022 monthly peak of 4.35m teu. In the India subcontinent, Nhava