Drewry: Port Throughput Index Down 3%

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Credit: Rinson Chory/Unsplash

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, says an article published on bunker ports news.

Short-term predictions

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 ourproprietary AIS model) to make short-term predictions of port throughput.

 

bunkerportsnews/Drewry

Drewry’s latest assessment – February 2023

  • The Global Port Throughput Index weakened 3.0% MoM and 0.7% YoY in December 2022m with Greater China the only region that posted annual gains. Drewry’s Nowcasting model estimates a further 0.5% decline in January 2023.
  • While the Drewry Greater China Port Throughput Index was down 6.0 % MoM in December 2022, it was 8.1% higher YoY. Container throughput across the major ports in the Greater China region performed well in December with positive annual growth, except in Hong Kong where volumes were down 7% YoY. Shanghai reported a 3.1% YoY increase in December 2022, regaining market share from Ningbo where traffic levels were stable vs. December 2021, but 12% below the volume handled November 2022.
  • The Drewry North American Port Throughput Index declined 6.6% MoM/11.4% YoY to 95.5 points in December 2022. All major West Coast ports posted a YoY decrease in December. After witnessing an 8.8% decline in November, Oakland traffic dropped 12% MoM in December 2022, while throughput at Vancouver, which was struggling with winter weather delays, declined 24.9% MoM.
  • The Drewry European Port Throughput Index showed a slight 0.9% MoM improvement after six months of continuous decline, but still ended the year 8.0% lower than in December 2022. The European market struggled with multiple disruptions during 2022, including war in Ukraine, sanctions on trade with Russia, steep inflation and labour disputes. As a result, throughput at the majority of major European ports declined in 2022.

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Source: Bunker ports news