CONTAINER Trade Statistics (CTS) freight rate index data for March shows a decline in terms of both demand growth and rate levels that is driven predominantly by longer head-haul trades, reversing gains over the first two months of the year. Global demand declined by 1.1 per cent in March compared to the same period last year. Head haul trades are overall seen to be down 5.5 per cent versus March last year, this is due mainly to the transpacific and Asia-Europe trade lane volumes declining year on year by 12 per cent and 15 per cent, respectively. By comparison the backhaul trades rose 2.9 per cent in March. The intra-regional trades combined rose by 1.7 per cent, which is a sharp decline in growth rate compared to the start of 2018 and a continuation of the declining growth trend seen over the last year, reported SeaIntel Maritime Analysis. Commenting on the data, SeaIntel CEO Alan Murphy said: "It should also be noted that such a sharp reversal in demand growth on key trades should call on a bit of caution in terms of interpretation. "We do not yet know whether this is simply an aberration, and hence the market is exhibiting a higher degree of volatility on an otherwise firm basis, or whether this is a reversal of trend. For this we would need to await the data for April and May."