Drewry: Port Throughput Up 3.2% on Last Year
The Drewry Container Port Throughput Indices are a series of volume growth/decline indices based on monthly throughput data for a sample of over 220 ports worldwide, representing over 75% of global volumes. The base point for the indices is January 2012 = 100.
After crossing the 130 point level in March 2019, the Drewry Container Port Throughput Index remained almost unchanged (half point decline) in April 2019. This is an April trend evident in previous years as well. However, on an annual basis it was four points (3.2%) up compared to April 2018 and eight points up when compared to April 2017.
The index for the largest world region (China) also remained stagnant on a monthly basis at 139 points in April 2019. However it was close to 5 points (3.5%) higher compared to April 2018.
Asia (excl. China) witnessed the largest monthly decline of around 5 points (3.6%) over March 2019 but a similar positive annual growth (3.8%, 4.7 points) over April 2018. Southeast Asia may be picking up addition trade as a supplier to the US in place of China.
Africa was the region where the throughput index experienced the highest monthly increase (5%) over March 2019. However it also witnessed the largest annual decline (3%) in April 2019. The data for the region continues to show volatility, affected in particular by South Africa.
Europe, North America and Latin America all experienced around 1% monthly increase in April 2019. The index for Latin America was 2.3% down compared a year ago (hit by economic issues in Brazil) but the other two regions achieved 5.2% and 6.5% annual increases respectively. Fear of further tariffs seems to be continuing to push up North American port traffic, while Europe appears to be benefitting from a switch of US sourcing away from China.