Forecast: Interstate Shipping Freight in Australia

Interstate shipping freight in Australia has been experiencing a general decline in volume from 2013 to 2023, dropping from 62.3 billion tonne-kilometers in 2013 to 47.2 billion tonne-kilometers in 2023. Year-on-year fluctuations saw notable decreases, with a sharp 19.34% drop in 2020, attributed mainly to the COVID-19 pandemic. Although there was a modest recovery in 2021 and 2022, with growth rates of 10.92% and 2.12% respectively, the trend resumed its downward path with a 3.08% reduction in 2023. The compounded annual growth rate (CAGR) over the last five years stood at -3.01%. Future forecasts predict a continued decline, with a projected 2028 volume of 39.23 billion tonne-kilometers and a 5-year forecasted CAGR of -2.87%.

Future trends to watch for include the impacts of environmental policies aimed at reducing carbon emissions, advancements in logistics technology promising greater efficiency, and possible shifts in domestic production and consumption patterns that may affect interstate shipping demand.