Drewry: Port Throughput Index Down 0.3% In September

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

• Drewry’s Global Container Port Throughput Index fell 0.3% in September, but was 4.7% higher YoY. The rolling 12-month average growth rate for global port handling remained at 5.5%, while global YTD growth to September was 6.5%, with all regions except the Middle East and South Asia recording positive volume growth. Latin America recorded the highest growth, up 11.8% YTD, with North America close behind at 11.6%. According to Drewry’s Nowcast model, the Global Port Throughput Index is anticipated to have softened further 1.1% MoM in October to 116.9 points.

• The Greater China Container Port Throughput Index fell 1.2% MoM to 123.0 points in September, but was up 3.9% YoY. MoM volume growth at the largest ports turned negative in September in the run-up to China’s Golden Week holidays at the beginning of October. Volumes at the majority of leading ports were well ahead of 2023 throughput levels, with xiamen and Hong Kong the notable exceptions..

• The European Container Port Throughput Index rose 0.9% in September to 108.4 points, up 6.8% YoY. Additionally, the rolling 12-month average growth rate improved again to 4.1%. The gap in growth between the sub-regions has narrowed in recent months – the rolling 12-month average growth rate in September was 3.4% in North Europe, compared to 4.8% in South Europe.

• The Middle East and South Asia Container Port Throughput Index increased 0.9% in September, up 2.1% YoY, but the 12-month rolling average growth rate fell further into negative territory at -1.0%. The gap in volume growth between South Asia and the Middle East continued to widen – the 12-month rolling average growth rate for South Asia rose to 8.6% in August, while that of the Middle East plunged to -10.7% due to the ongoing security situation in the Red Sea. Volumes at major Indian ports in 3Q24 grew by double digits compared to 3Q23, with traffic at Jawaharlal Nehru Port up 16% YoY for the quarter.
Source: The Drewry