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Drewry: Port Throughput Index Down 4.5% Year-on-Year

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 340 ports worldwide, representing over 80% of global volumes. The base point for the indices is January 2019 = 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 – March 2023

Global Port Throughput Index slid 2.6% MoM / 4.5% YoY in January 2023. A further fall of 5.6% MoM has been estimated in February 2023 by Drewry’s Nowcasting model. North America witnessed the largest drop of 11.0% YoY, followed by 8.2% YoY reduction in Europe.

The earlier date for the Chinese New Year, with holidays starting in the last week of January, impacted the Greater China Port Throughput Index. Shenzhen witnessed the largest monthly fall, with handling down by 0.9 mteu/-30% MoM, followed by Guangzhou, which handled 0.5 mteu fewer containers in January 2023. Shanghai throughput was down 13% MoM / 7.4% YoY, while the ports of Ningbo and Tianjin bucked the trend with 43.9% and 64.2% MoM growth, respectively.

The Drewry European Port Throughput Index tumbled -8.2% YoY in January, while the only region that posted annual growth was the Middle East and South Asia, where traffic was up 3.6% YoY.

Despite a small monthly uplift in the North American Port Throughput Index in January 2023, the region looks set to remain on a downwards trajectory. Throughput at the major West Coast gateway ports of Los Angeles and Long Beach has dropped 38% YoY in February 2023.

Source: Drewry

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