Sunday, June 4, 2023
HomeAnalysisDrewry: Port Throughput Down 2.2% During June


To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Drewry: Port Throughput Down 2.2% During June

The Drewry Container Port Throughput Indices are a series of 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.

After strong growth in May 2021, the Drewry port throughput index fell by 2.2% monthly in June 2021, but the annual growth of 11.1% confirms that the recovery remains on track. Throughput growth is projected to continue into the 3Q21 peak season, but slowdown in the final quarter of the year. However, all growth forecasts remain highly sensitive to Covid developments.

The Greater China ports index declined MoM by 3 points (0.9%) in June 2021, but was close to 14 points up when compared to June 2020. This monthly decline can largely be attributed to the congestion at Yantian, following the port’s temporary closure in late May as a result of a Covid outbreak. As a result, carriers either skipped the Yantian call or suffered the additional waiting time for a berth at port. Congestion also spread to Hong Kong, which witnessed an 8% monthly decline in June 2021, but the leading central and northern China ports all reported growth.

The Asia (ex-China) index followed the same trend with a fall of 2.4% in monthly volumes, but annual increase of 11.9% in June 2021. Throughput was down in Singapore, Port Klang and Busan (the top three regional hubs) by 3%, 2% and 4%, respectively, with congestion at southern Chinese ports impacting carrier schedules across the region, resulting in vessel delays which led to scheduled calls being dropped.

The Middle East and South Asia index fell by 1.4% monthly but increased by 12.9% YoY in June 2021. At the port level the largest MoM declines were seen at Bandar Abbas, which continues to see trade fall as a result of sanctions, and Mundra which reported a slowdown in transhipment traffic.

After reaching the record-high level of 171.2 points in May 2021, the North American ports throughput index plunged by 8.5% to 156.7 in June 2021, but it is still 27.5% higher than in June 2020, and almost 11% higher on a 2-year basis. Congestion remains a major problem across a growing number of ports, and volumes were down at Long Beach and Los Angeles as a result of the Yantian closure.

The Latin American index followed the same trend by witnessing a 4.1% MoM decline, but a strong 24.6% annual gain to stand at 124.7 in June 2021. May saw particularly strong volumes across the Brazilian and Panamian ports, but throughput has normalised in June.

The European Port throughput index remained unchanged at 123.4 points for the last three months. While the 14.8% year-on-year improvement is positive, on a 2-year basis the index is up by just 0.7% indicating that the European trade recovery is lagging behind other markets.

Oceania’s index declined by 6% monthly with all major Australian hubs (Melbourne, Sydney and Brisbane) recording a fall in June 2021, but the index was close to 2% higher than in June 2021. The Africa index improved by 1.7% monthly and 19.4% over the same period in 2020. However, we advise caution when considering the Africa index as it is based on a small sample size.

Source: Drewry

Related Posts


Finance & Economy
Shipping News

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...