Global Demand for Ocean Container Shipping Hits All-Time High

Global Demand for Ocean Container Shipping Hits All-Time High

Global demand for ocean freight container shipping hit an all-time record in May amid soaring spot rates and severe port congestion, according to data released by Xeneta and Container Trades Statistics. In May, 15.94 million TEU were transported by ocean, surpassing the previous record of 15.72 million TEU from May 2021. Year-to-date volumes are just under 74 million TEU, a 7.5% increase compared to the first five months of 2023. “More containerized goods are being shipped by ocean than ever …