Maritime logistics, staying ahead of market trends is crucial for industry stakeholders. The Drewry Container Port Throughput Indices have emerged as a reliable barometer, offering insights into the ebb and flow of global port activities. Let’s delve into the latest assessment for February 2024.
Drewry’s Global Container Port Throughput index exhibited a commendable 0.3% month-over-month (MoM) increase in December, soaring to 112.5 points and standing resilient against the challenges of the industry. This surge marks a substantial 7.4% leap from the figures recorded in December 2022. However, Drewry’s Nowcast model predicts a 7.2% MoM decrease in January, settling at 104.3 points but remaining 3.7% higher than January 2023.
The spotlight turns to the Greater China Container Port Throughput Index, which experienced a robust 4.2% MoM rise in December 2023, reaching 122.1 points and boasting a significant 13.9% year-over-year (YoY) increase. Drewry’s Nowcasting Model anticipates a 3.0% MoM decline in January 2024, stabilizing at 118.4 points, an impressive 17.3% surge compared to the same month in 2023. Noteworthy is the impact of the Chinese New Year, falling on February 10 in 2024 compared to January 22 in 2023.
On the other side of the globe, the North American Container Port Throughput Index continued its seasonal downturn, witnessing a 2.4% MoM reduction in December 2023. Meanwhile, the European Container Port Throughput Index faced a 3.3% MoM dip in the same period, settling at 99.0 points, still 2.1% higher than December 2022. Drewry’s Nowcast model predicts a substantial 11.1% decline in the Container Port Throughput Index for January 2024, landing at 88.0 points. This dip is attributed to delayed arrivals of mainline vessels, rerouted around the Cape of Good Hope since late December.
Source:Drewry
