Ports/Logistics

Global port congestion dropped from 13.1% to 11.1% in the past week, due mainly to the fall in Chinese port congestion.

The top 3 ports in the world all reported improved throughput volumes in May, with Shanghai retaining the top spot at 3.4m teu last month for a 10.3% MoM rebound.

Global port volumes are expected to rebound by 1.5% in May compared to April..... Despite the encouraging rebound, overall volumes in May remain 2.8% lower compared to the same period last year.

Mexico has been a key beneficiary of the container traffic boom in the last 2 years where Mexican ports have enjoyed a significant spillover of North American cargo demand

What may have gone unnoticed by the market is the outperformance of port throughput in China relative to the other Asian cargo origins. Shanghai lockdown has many expected a drop in volume out of China ...

Chinese port volumes were surprisingly resilient in April, with overall container volumes dropping by just 0.2% YoY last month despite the extended lockdowns in Shanghai that brought down the main Chinese port’s throughput by 17.0% YoY.

Container handling volumes at the port of Shenzhen rebounded sharply in April to reach 2.61m teu, for a 18% gain compared to March and 44% against February’s numbers.

Global port congestion continued to fluctuate around 12% to 13% of the global fleet, with the situation remaining very fluid.

Vietnamese container port volumes have recovered strongly from their extended lockdowns at key cities that started in July 2021 and ended only in early October 2021. Port volumes were badly hit during the lockdown period..

The extended lockdown in Shanghai has hurt overall Chinese container port volumes, with Shanghai port reporting a 25% month on month reduction in April. But other Chinese ports have stepped up, with Ningbo reporting a 12% YoY increase. The overall impact on global container volumes is small...