Looking Back on the First Ten Months: Entering the Final Quarter of 2025
Global Volumes Back on the Rise in October
Global container volumes rebounded in October, recording a 2.8% month-on-month increase from September’s sub-16M figure. Once again, global liftings surpassed 16 million TEUs, reaching 16.3 million TEUs for the month, marking the sixth time in 2025 that volumes have exceeded this threshold.
To put this in perspective, in 2024 global volumes surpassed 16M TEUs only twice, a figure that was considered remarkable at the time. Fast-forward to 2025, and liftings above 16M TEUs have become almost a new ‘standard’. Year-on-year, October’s performance represents a 2% increase, while year-to-date global volumes stand 4% higher than the same period in 2024, underscoring the sustained strength of the market.
The Global Price Index dropped a further 3 points in October, standing now at 73 points. This is the lowest the index has been in 2025, currently 21 points under where the index stood at the beginning of the year.
Regional Imports: Sub-Saharan Africa Leads the Way
Year-to-date import growth remains positive across all regions except North America, which recorded a modest 2% decline compared to 2024. Despite earlier concerns, this is a smaller pullback than expected. The reduction in cargo from the Far East appears to have been partially offset by increased volumes from Europe, the Indian Sub-Continent & Middle East, and Sub-Saharan Africa.
Interestingly, although the Far East has scaled back exports to North America, it still accounts for approximately 68% of the region’s total imports, demonstrating the continued dominance of the Transpacific trade.
Once again, Sub-Saharan Africa takes the top spot for regional import growth, reflecting the region’s remarkable rise throughout 2025. These developing markets have played a pivotal role in supporting overall global volumes, offsetting challenges in major trade lanes. Imports for Sub-Saharan Africa are up 16% year-to-date, driven mainly by strong cargo flows from the Far East, the Indian Sub-Continent & Middle East and surprisingly North America, which takes the top spot. Interestingly, despite increased volumes going into Sub-Saharan Africa, all price indices going into the region have remained stable in 2025.
Regional Exports: Europe and North America Stagnant
The export picture presents a contrasting narrative. Both North America and Europe have seen no year-to-date growth in exports. While North America’s stagnation may come as little surprise, Europe’s widening trade imbalance is more striking. European imports are up by nearly 2 million TEUs for the year, whereas exports have grown by just 15,000 TEUs in 2025.
Europe’s exports to the Far East declined by approximately 8% year-to-date, and any regional increases in exports from Europe were minimal, suggesting subdued demand.
In terms of total TEUs, the Far East remains the clear leader, with exports up nearly 5.2 million TEUs compared to 2024. This growth has largely been driven by the surge in trade between the Far East and the Indian Sub-Continent & Middle East. From a percentage standpoint, the Indian Sub-Continent & Middle East recorded the strongest growth, with exports rising 8% year-to-date versus the first ten months of 2024. This growth is spread evenly across most major regions, highlighting the broad-based resilience of this trade lane.
Despite Strong Volumes, Questions Remain
As we enter the final quarter of 2025, it is safe to say that the year is on track to be a record-breaking one. However, while volumes remain strong, signs of weakening have appeared in several key trade indices, alongside a continued softening of the Global Price Index.
Looking ahead, several key questions remain:
• What has been driving the sustained strength of European imports throughout 2025?
• How will Europe’s widening import–export imbalance evolve?
• Can the Far East maintain its volume momentum into 2026?
• And which emerging ‘smaller’ markets will continue to play a vital role in supporting global growth?
One thing is certain: 2025 has redefined expectations for global container volumes, and the months ahead will determine how this historic year concludes.
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