In February, Drewry’s Global Container Port Throughput Index registered at 109.2 points, marking a 0.8% decline from the previous month but an 8.3% increase compared to February 2023.
According to the Japan International Freight Forwarders Association, Inc. (JIFFA), the index is forecasted to have dropped 1.9% to 107.1 points in March but is expected to show a 0.9% improvement year-on-year. Although container liftings saw growth in Greater China, it wasn’t sufficient to counterbalance throughput decreases in other regions.
Also, Drewry’s Container Port Throughput Indices provide calendar-adjusted volume growth and decline indicators based on monthly throughput data from over 340 ports globally, covering more than 80% of global volumes. These indices were established with a base point of 100 in January 2019.
The Greater China Container Port Throughput Index experienced a notable 13.3% decline from the previous month, reaching 104.0 points in February due to slowdowns during the Chinese New Year holidays. Nevertheless, the index remained 5.3% higher compared to the previous year. Drewry’s Nowcasting Model predicts a month-on-month increase of 2.2% to 106.4 points in March, indicating a 2.7% decrease from the same period last year.
Moreover, the North American Container Port Throughput Index surged by 6.8% from January to 109.2 points in February, driven by a 28% year-to-date increase in combined throughput at Los Angeles and Long Beach ports.
In February, the European Container Port Throughput Index saw a significant 10.1% increase from the previous month, reaching 103.5 points, which was 5.6% higher than February 2023. The rolling 12-month average growth rate improved to -1.2% in February, with Drewry’s Nowcast model indicating a continued improvement in March.
Source: Container News