Drewry: Port Throughput Index Up 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

• Drewry’s Global Container Port Throughput Index rose 1.0% MoM to 118.3 points in August, 6.6% higher YoY. Additionally, the rolling 12-month growth rate for global port handling jumped to 5.5% and YTD growth was 6.9%, with all regions except the Middle East and South Asia recording positive volume growth. According to Drewry’s Nowcast model, the Global Port Throughput Index is anticipated to have increased 0.8% MoM in September to 119.2 points.

• The Greater China Container Port Throughput Index rose to 124.5 points in August, up 0.9% MoM and 6.8% YoY, with the rolling 12-month growth rate rising to 6.1%. In August 2024, strong performances were reported by Shenzhen (+14% YoY) and Ningbo (+13% YoY), with Guangzhou (+9% YoY) and Shanghai (+7% YoY) also outpacing the regional average.

• The North American Container Port Throughput Index rose 1.7% MoM in August to 117.3 points (+15% YoY). The rolling 12-month growth rate increased to 7.7%, well ahead of the global growth rate (+5.5%). Volume gains were recorded across the region, with the West Coast ports continuing to experience impressive growth. In August 2024, container throughput at Long Beach was 34% ahead of August 2023 levels, with double-digit increases also reported at Seattle (+30%), Vancouver (+19%) and Los Angeles (+16%).

• The Middle East and South Asia Container Port Throughput Index increased 1.0% in August, although remained down 3.7% YoY. The 12-month rolling average growth rate fell into negative territory at -0.3%. For yet another month, the gap widened between the volume growth in South Asia and the Middle East. The 12-month rolling average growth rate for South Asia moderated to a still impressive 8.5% in August, while that of the Middle East plunged to -9.1% due to the ongoing Red Sea crisis.
Source: Drewry