Intra-Asia сontainer shipping market outpaces global growth – Drewry
Drewry’s new online Intra-Asia Container Market Insight service confirms that growth in the intra-Asia container shipping market, which over the last five years (2019-2023) registered a compound average growth rate (CAGR) of 3.6%, far outpaces growth in global shipping trades, which grew at a CAGR of just 0.7% over the same period.
Total intra-Asia containerised trade volume amounted to 52 million TEU in 2023 making this the powerhouse of the global container market. Industry forecasts predict sustained growth in trade between major economies such as China, Japan, South Korea, and ASEAN nations driven by closer economic integration, rising consumer demand and robust manufacturing activity across the region.
“As container shipping growth moves from intercontinental to intra-regional trades, industry stakeholders require new knowledge services that help bolster their intra-Asian shipping activities and supply chains,” said Subrata K. Behera, Deputy Director Ports and Container Research of Drewry. “This new service delivers unique insights, enabling regional logistics teams to monitor the market, make more precise budget forecasts and access near-real-time updates on trade and potential disruptions.”
As the intra-Asia shipping market expands, businesses need reliable information and insights to stay ahead. Drewry’s Intra-Asia Container Market Insight service equips clients with the key industry data points and insights they need to navigate this growth and leverage new opportunities.
The service covers six Intra-Asia sub-regions: Greater China, North Asia, South Asia, Southeast Asia, the Middle East and Oceania, with individual analyses available for trades connecting these 6 regions, but does not cover intra-China, intra-North Asia and intra-sub region container shipping.
The launch of this industry-first, specialised intra-Asia container market research tool follows the introduction last month of Drewry’s Intra-Asia Container Index, a new industry tracker for spot rates within Asia.
