Major port volumes came in at 45.4 mnt (-23% y-o-y) in May, sequentially the lowest since February 2015.
The volume decline was led by a sharp fall in coal (-39% y-o-y) and container volumes (-33% y-o-y, in tonnage terms).
While container volumes improved sequentially in May from the multi-year lows recorded in April, the decline rate was still a steep 36% y-o-y (in TEU terms).
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