Global ferry freight volumes in March 2023 experienced a significant decline of 12 per cent compared to the same month in 2022, according to a recent report. The drop in volumes was attributed to the closure of the Izmir-Tarragona route and the impact of market decrease and overcapacity on the Channel. When adjusted for these factors, volumes still remained 6.1 per cent below 2022 levels.

North Sea volumes witnessed a decline primarily due to fewer volumes between the Netherlands and the UK. On the other hand, Mediterranean volumes were above last year's levels, adjusted for the closure of the Izmir-Tarragona route, DFDS said in its report.

Channel volumes suffered from a continued market decrease, the suspension of sailings by an operator in March 2022, and the negative impact of a third ferry operator entering the market. Furthermore, Baltic Sea volumes were adversely affected by the ongoing war in Ukraine.

Over the last twelve months (2023-22), total transported freight lane meters decreased by 6 per cent to 40.8 million, down from 43.4 million in the 2022-21 period. When adjusted for the closed Izmir-Tarragona route and Channel factors, the decrease stood at 2.5 per cent, the report said.

Fibre2Fashion News Desk (KD)

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Global freight volumes plunge 12% in March 2023: Report

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