Drewry: Port Throughput Index Up 3.3% in August

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 – August 2024
Drewry’s Global Container Port Throughput Index increased 3.3% MoM in June 2024, reaching 118.5 points, 5.5% higher YoY. The rolling 12-month average growth rate for global port handling also rose to 4.4% in June. According to Drewry’s Nowcast model, which takes into account the capacity and duration of container vessel calls at over 190 ports, the Global Port Throughput Index is anticipated to have fallen 4.1% MoM in July to 113.7 points.
The Greater China Container Port Throughput Index rose to 126.0 points in June 2024, up 4.6% MoM and 6.0% YoY. The 12-month average growth rate in Greater China improved slightly to 5.8%. Volume growth for most major ports has slowed compared to earlier in the year, except for Shenzhen, where 2Q24 throughput was up 14.0% YoY.
The North American Container Port Throughput Index rose 7.9% MoM in June to 115.0 points (+12.9% YoY). The rolling 12-month average growth rate expanded to 2.5%, having only broken into positive territory last month for the first time since 2022. Volume gains were recorded across the region, with most major ports recording double-digit growth YoY in 2Q24, the exceptions being Los Angeles, Manzanillo and Vancouver.
The Middle East and South Asia Container Port Throughput Index rose 2.0% in June, up just 0.2% YoY. This pushed the 12-month rolling average growth rate up to 1.1%. Indian ports are driving much of the regional growth, with 2Q24 volumes up 10% YoY at Jawaharlal Nehru and Chennai and 22% at Kattupalli and Cochin.
Source: Drewry