According to research complied by UBS Australia(1), container volumes (TEUs) in February 2023 were down 19% on the same time last year across the 4 major Australian container ports, comprising Botany down 26%, Melbourne down 20%, Fremantle down 17%, and Brisbane down 8%.
UBS concludes that February’s result was the largest monthly decline recorded in at least the last 20 years across the 4 major capital city container ports.
It was the fourth consecutive month of declines (Nov -3%, Dec -8%, Jan -4%) as the market continues to unwind from surging goods consumption seen during Covid 19.
