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 – July 2024
• Drewry’s Global Container Port Throughput Index increased 0.4% in May 2024, reaching 114.2 points, 3.9% higher than the previous year. For the first five months of 2024, all regions except the Middle East and South Asia recorded growth, with North America, Latin America, Africa and Oceania regions reaching double-digit growth on a YTD basis. According to Drewry’s Nowcast model, the Global Port Throughput Index is anticipated to have fallen 0.5% MoM in June to 113.7 points held back by lower performance in Asia (excl. China), Europe and North American markets.
• The Greater China Container Port Throughput Index rose 1.5% MoM to 120.5 points in May 2024, up 6.3% YoY. The 12-month average growth rate in Greater China increased to 5.6%, ahead of the global growth rate of 3.7%. May 2024 volumes at most of the major ports rose compared to April, although performance at Hong Kong and Xiamen declined.
• The North American Container Port Throughput Index rose marginally in May 2024, up 0.3% MoM to 107.8 points (+5.5% YoY). Following a strong April, container volumes handled on the US West Coast reported MoM declines in May – dropping 7.3% in Long Beach, 2.3% in Los Angeles and 0.3% in Oakland.
• The European Container Port Throughput Index fell 1.2% in May 2024 to 104.9 points, which is just 0.2% above the May 2023 level. Spanish ports continue to benefit from the changes in call patterns, with May YTD volumes up 13% at Valencia and 24% at Barcelona. Northern European ports are also experiencing some volume recovery.
Source: Drewry