The Drewry Global Port Throughput Index up by 0.8% in December, but 1.6% lower year-on-year
The Drewry Global Port Throughput Index (rebased to January 2019) reached 106.6 points in November 2022, an increase of 0.8% MoM but still 1.6% lower YoY. Drewry’s Nowcasting model indicates a 1.0% drop in December 2022.
The Drewry Greater China Port Throughput Index improved 4.0 % MoM / 4.9% YoY in November 2022. Although Greater China was the only region that witnessed monthly as well as annual gains, the individual ports posted mixed results. Shanghai reported a 2% MoM decline in November 2022, whereas Shenzhen’s throughput increased 18.4% MoM. Shenzhen was the main contributor to the monthly growth and handled an additional 0.4 mteu containers compared to October 2022.
Drewry North American Port Throughput Index (rebased to January 2019) declined 8.2% MoM / 8.5% YoY to 101.7 points in November after remaining flat MoM in October 2022. On the West Coast, labour issues at Oakland impacted operations at the port, with November throughput falling 8.8% MoM. Handling at Vancouver also declined 10.7% MoM, although this was 14.6% higher YoY.
Savannah witnessed the largest monthly decline in terms of teu where throughput was down 15.9% (88k teu) MoM in November due in part to on-going congestion at the port.
Drewry’s Oceania Container Port Throughput Index (rebased to Jan 2019) declined to 108.5 points in November 2022, down 2.0% MoM / 2.4% YoY. The rolling 12-month average growth rate weakened slightly to 2.3% in November 2022 from 2.6% in October 2022. After declining 11% MoM in October, throughput at New Zealand’s main port Tauranga returned to normal in November 2022.
