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 experiencing an all-time high in May 2019, the global container port throughput index declined by 1.7% to 130.8 points in June 2019. A dip in June followed by a recovery in July has been the norm over the last few years. On an annual comparison, the index is 3.1% higher than the June 2018 level of 127.7 points, reinforcing our projection of 3% global growth in container port throughput for 2019. The index is 7.1 points higher when compared to June 2017.
All world regions saw a monthly decline in June 2019 except Latin America and Africa. However, the index for Latin America was only marginally higher (0.3%) than in May 2019 and just 0.4% up compared to June 2018 as Brazil’s economic woes are biting. Africa witnessed a monthly increase of 3% but an annual decline of 0.7% in June 2019. Note that the index for Africa is based on a relatively small sample.
The largest world region China suffered close to one percent monthly decline in June 2019. However it was 3% (4.1 points) higher compared to June 2018, thus tracking closely our global growth figure. The index for Asia (excl China) was 2.8% lower compared to May 19 but 1.8% higher than June 2018.
Europe witnessed the largest 3.0% (3.8 points) monthly decline in June 2019 whereas the annual increase was also the highest 4% (4.7 points) compared to the other regions. North America saw a half percent annual increase but 2.1% monthly decrease in June 19. Both of these develped world regions are currently experiencing increased volatility, driven by tariff wars and in the case of the UK, Brexit.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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