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Drewry: Port Throughput Index down 2% in January

March 21, 2024
Reading Time: 2 minutes

London - 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 Ports and Terminals Insight

Drewry’s latest assessment – March 2024

• Drewry’s Global Container Port Throughput index fell 2.0% MoM in January 2024 to reach 110.3 points, 9.8% ahead of the January 2023 level. According to Drewry’s Nowcast model, the Global Port Throughput Index is anticipated to have fallen 3.5% MoM in February but 5.5% higher than in February 2023.

• The Greater China Container Port Throughput Index fell slightly by 1.9% MoM in January 2024 to 119.8 points, up 18.7% YoY. Please note that there is now a greater time lag in the publication of Chinese port throughput data, and as such previous month volumes are now being projected at a national level based on a smaller sample of corporate data. Drewry’s Nowcasting Model indicates a 11.3% MoM decline in the Container Port Throughput Index to 106.2 points in February, 7.5% above February 2024, noting that in 2023 the Chinese New Year fell on 22 January whereas in 2024 it was on 10 February.

Drewry’s Ports and Terminals Insight

• The North American Container Port Throughput Index remained mostly stable in January 2024, easing slightly by 0.2% MoM. The Vessel Call Index rose 2.5% MoM in February 2024 to 99.0 points, 2.5% above the February 2023 level. Drewry’s Nowcasting Model projects a 3.2% increase in the North American Throughput Index for February 2024. • The European Container Port Throughput Index dropped 1.4% MoM in January 2024 to 96.1 points, 2.4% ahead of January 2023.With the Suez transit no longer the prime Asia-Europe routing, East Mediterranean hub ports have lost volumes. Piraeus saw throughput fall 12.7% YoY and 25.8% MoM in January 2024. Drewry’s Nowcast model indicates that the Container Port Throughput Index is expected to have increased by 0.5% to 96.6 points in February 2024.

Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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