Melbourne forecasts container dip for 2022 outlook

Container trade at Melbourne trailing below last year’s

The Port of Melbourne has witnessed throughput increasing 15.6 per cent in October over last year, but predicts slowdown in cargo as freight rates normalise.

October 2022 saw a total container throughput (full and empty) of 295,149 TEU.

Year-to-date container volumes are up 9.3 per cent.

Full overseas imports were up 11.9 per cent on October 2021 with domestic appliances, non-electrical machinery, ceramic goods, clothing, miscellaneous manufactures, and metal manufactures all above last year’s volumes.

Full overseas exports were up 11.0 per cent on October 2021, with wheat, cottonseed, raw cotton, malt, meat, and nuts (almonds) all above last year’s levels.

Total empty container movements were 37.9 per cent above October 2021.

READ: Port of Melbourne volume stays strong through peak season

Container trade for November 2022 is tracking below the comparative month in 2021, reported the port authority.

Despite recent improvements, congestion levels remain higher than pre-pandemic averages with some ongoing disruption.

Container freight rates continued to decline throughout October, although above pre-pandemic levels.

Last month, the CMA CGM Group deployed the largest vessel to ever call at the Port of Melbourne.

With a nominal capacity of 10,926 TEU, the CMA CGM Estelle berthed at Victoria International Container Terminal (VICT) in Webb Dock.

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