Export volumes fall at Valencia

The Valencia Containerised Freight Index, an indicator measuring the trend and evolution of container transport costs by sea from the port, now stands at 1,885.54 points.

This index reflects a decrease in the level of freight rates in almost all areas, with notable drops being the US and Canada (-17.92%), Atlantic Europe (-15.29%) and Atlantic Latin America (-9.77%).

The only area to experience an increase is the Indian Subcontinent, up 6.32%.

The port authority attributes these falls to an unstable market in which uncertainty caused by the war in Ukraine and global inflation is creating imbalances in trade flow between countries.

Trade in the western Mediterranean is down 1.64% overall with a rise in the volume of exports from Valencia to Tunisia and a decrease in traffic with Morocco. Exports to Algeria continue at minimum levels, again attributed by the port to ongoing geopolitical issues.

Export volumes to the Far East have dropped in May, although this was less than the 3.74% decrease seen in April. Valenciaport reports that export levels to China, its main trading partner, have moved upwards in recent weeks.