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Drewry: Container Port Throughput Index Down 1% In September

The Drewry Container Port Throughput Indices are a series of calendar adjusted volume growth/decline indices based on monthly throughput data for a sample of over 235 ports worldwide, representing over 75% of global volumes. The base point for the indices is January 2012 = 100.

Drewry has developed a nowcasting model that uses vessel capacity and terminal duration data (derived from our proprietary AIS model) to make short-term predictions of port throughput.

Drewry’s latest assessment – November 2022

The Drewry Global Port Throughput Index dropped to 141.5 points in September 2022, a reduction of 1.0% MoM and 1.6% YoY. With the ongoing congestion across USEC ports, North America made a major contribution to the decline in the Global Throughput Index in September 2022.

The Drewry Greater China Port Throughput Index recorded a slight improvement (0.4% MoM) in September 2022. China’s export volumes have been declining, with a gradual shift in manufacturing activity to Southeast Asia. The country’s zero-Covid policy has also contributed to this shift in supply chains. Another disrupting factor in September 2022 was the weather, with typhoons Hinnamnor and Muifa causing temporary port shutdowns in Shanghai and Ningbo, where volumes fell by 7.3% MoM and 10.8% MoM respectively during the month.

The Drewry Asia (excl. China) Port Throughput Index declined by 4.4% MoM in September 2022 to 128.2 points, 4.2% below the September 2021 levels. Severe weather disrupted operations at the leading South Korean port of Busan, where terminals were closed in September 2022 due to typhoons Hinnamnor and Muifa. As a result, volumes at Busan fell 17% MoM (0.3 mteu) and 14.2% YoY. Taiwan’s export orders continue to fall due to China’s weak recovery which is holding back demand. Traffic at the main Taiwanese port Kaohsiung declined 10% MoM in September.

Source: Drewry

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