A Drewry Maritime Research Port Throughput Index

Drewry’s latest assessment – September 2023

• The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient to counterbalance the MoM decline in throughput registered in Greater China, Asia (excl. China), North America and Europe. Drewry’s Nowcasting Model indicated that the index will have fallen further in August, dropping 4.1% MoM in August 2023. The rolling 12-month average growth rate fell to -1.2% in July 2023, and the Nowcast Model indicates that the downwards trajectory will be maintained into August.

• After witnessing a significant increase of 5.2% MoM in June 2023, the Greater China Container Port Throughput Index fell to 113.7 points in July, a decline of 3.3% MoM but representing a rise of 1.0% YoY. The Greater China Container Port Performance Index fell 1.3% MoM in August 2023 to reach 103.1 points led by a 3.5% MoM decrease in pre-berth waiting time.

• The North American Container Port Throughput Index declined 3.1% MoM / 15.0% YoY in July 2023. West Coast ports continued to report volume losses in July – traffic at Los Angeles and Long Beach was down by more than 26% YoY while Vancouver throughput plunged 35.4% due to  industrial action.

• The European Container Port Throughput Index fell 2.3% MoM in July 2023, reaching 99.5 points, 3.1% below last year’s number. Overall, European ports are struggling with weak demand – the Spanish ports of Barcelona and Valencia witnessed 8.0% and 4.2% decline YoY respectively, while traffic at Antwerp-Bruges was down 5.4% YoY in July 2023.

* Note that the index figure for Africa is based on a relatively small sample, and so should be viewed with caution

# Index figures for July 2023 are based on partial data; figures for August 2023 are nowcast estimates based on AIS data; data for both periods are subject to subsequent revision