Drewry: Global Port Throughput 2.8% Higher Than Last Year, but Lower Than Last Month

The Drewry Container Port Throughput Indices are a series of volume growth/decline indices based on monthly throughput data for a sample of over 235 ports worldwide, representing over 75% of global volumes. The base point for the indices is January 2012 = 100.

Drewry’s global container port throughput index (calendar adjusted) fell to 138 points in February 2022, 0.7% down MoM. However, the index was 2.8% higher compared to February 2021.

Chinese New Year factory closures held back growth in the China Port Throughput Index, which dropped almost 11% MoM in February 2022, although volumes were up by 3.4% on a YoY basis. Reintroduction of Covid lockdown measures in several major cities across China are expected to impact growth rates in the near-term. Vessel waiting time has risen steeply in March 2021, indicating growing levels of port congestion across the region.

North America was the top regional performer, witnessing double-digit growth on both a monthly and annual basis. The index has achieved a remarkable 31% growth since its pre-pandemic February 2020 level despite on-going port congestion. In contrast the performance of the Europe Port Index remains lacklustre with high and rising inflation acting as a drag on economic growth.
Source: Drewry