- In 2024, the Port of Melbourne handled a historic 3.396 million twenty-foot equivalent units (TEUs), marking a more than 9% increase from 2023 volumes.
- The port set a new record by exporting 3.37 million metric tonnes of grain in the 2024 financial year, with China emerging as a dominant importer, showing a 77% year-on-year growth.
- October 2024 saw the arrival of the Seaspan Breeze, the largest vessel to call at the port’s Swanson Dock, measuring 337 meters in length and 48.2 meters in beam.
Port of Melbourne in 2024 achieved the highest annual container trade volume ever recorded, signifying a historic milestone for Victoria. In 2024, the Port saw a total of 3.396 million twenty-equivalent units (TEUs) – more than 9 per cent up from 2023 volumes.
Significant growth in container trade
“Port of Melbourne holds a critical position as the trade gateway for southeastern Australia and beyond. The significant growth in container trade underpins economic activity in Victoria, and reflects the state’s diverse business landscape,” said Saul Cannon, Port of Melbourne Chief Executive Officer.
Minister for Ports and Freight Hon. Melissa Horne said, “The record-breaking trade numbers have delivered a boost to the economy and ensure Victorians have a secure supply of the things they rely on every day through a strong trade gateway – that’s why we continue to back our ports and freight industry.”
Strong container trade in 2024 was driven by an increase in import trade, particularly consumer goods such as furniture. Similarly, export trade has benefitted from the robust diversity of agricultural commodities experiencing favourable growing conditions. “We are proud to facilitate the export of agricultural goods, working with growers, shipping lines, and other port users to bring our region’s finest products to the world,” Mr Cannon added.
Strategic geographic position
As Australia’s largest general cargo and container port, Port of Melbourne handles more than one-third of the nation’s container trade. Its strategic geographic position allows the Port to support efficient and effective transport and logistics across southeastern Australia.
Mr Cannon commented, “There is a positive and promising trend in trade through Port of Melbourne. We have observed a growth in total trade volumes, including container trade, which is predicted to continue rising.”
Spurred by economic and population growth in Victoria and southeastern Australia, container trade through Port of Melbourne is expected to more than double within the next thirty years.
Committee for Melbourne Chief Executive Scott Veenker said, “Port of Melbourne’s exceptional performance in facilitating record container trade underscores its pivotal role as Australia’s premier trade gateway. It is crucial to maintain and enhance Victoria’s policy and planning settings to continue growing our supply chains and maximising trade opportunities, ensuring the prosperity of the port, Melbourne, and Victoria.”
As demand for trade continues to grow, Port of Melbourne is committed to meeting the growing needs of Victoria – with more than $800 million invested in port infrastructure since 2016 and a further $700 million expected by 2028.
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Source: Container News
