We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Global maritime port volumes rocked by Covid-19 in February

Global maritime port volumes rocked by Covid-19 in February

Plunge was steepest since tracking index created in 2012, Drewry says.

drewry feb port stats
April 24, 2020
DC Velocity Staff
No Comments

Monthly cargo volume through global maritime ports fell steeply in February under the pressure of worldwide Covid-19 travel and business restrictions, marking its most abrupt decline since 2012 or longer, according to a report from U.K.-based shipping consultancy Drewry Shipping Consultants Ltd.

Drewry’s “global container port throughput index” fell to 108 points in February 2020, 15.6% down month on month and 4.4% down year on year. That means the index plunged 20 points, which is the largest fall in a single month since the launch of the Drewry Container Port Throughput Index in January 2012. 

Drewry’s Container Port Throughput Indices are a series of volume-tracking 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.

According to Drewry’s analysis, port volumes in February have usually been low because of the Chinese New Year, but this year the steepness of the fall can be attributed to the coronavirus outbreak first noticed in China in January 2020. The pandemic forced factory closures across China beyond the usual New Year shutdowns, which resulted in a drop in Asia-U.S. cargoes. As a result, North America witnessed close to 60 blank sailings during the month.

The virus outbreak added to the woes of shipping lines which were already struggling with weaker markets and higher costs because of new “IMO 2020” regulations requiring them to cut back on greenhouse-gas emissions by using cleaner-burning—but more expensive—fuels, Drewry said.

As a result, China, the largest region in the index, crashed 45 points in a single month – the largest ever monthly fall. The drop to 91 points in February 2020 was a decline of 32.9% on a monthly basis and 16.4% annually. By comparison, North America saw a monthly drop of 10.9%, contracting the index to 123 points in February 2020, but the annual decline was only 2%.

Europe was less impacted that month, but Drewry expects a more intense virus-related impact to rock the region when March statistics are released. For February, Europe’sthroughput index was down 2.7% over the previous month and reached 116.5 in February 2020, although the annual fall was much lower at 1.4%. "The first wave Chinese supply-side impact [is] expected to be most evident in the March figures,” Drewry said. “We expect the European downturn to accelerate in the next few months with the spread of the virus into Europe supressing demand.”

KEYWORDS Drewry Shipping Consultants
  • Related Articles

    Drewry: maritime container volumes bounced back in July

    Maritime freight operating costs rose again in 2019, Drewry finds

    Maritime sector sees growing officer shortage due to competition from shore-based jobs

Recent Articles by DC Velocity Staff

A tree grows in Senegal

IoT vendors say industry needs better collaboration

Survey: only 55% of shippers filled their LTL trucks to full capacity in 2022

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Wireless technology could help electric trucks charge more safely, efficiently

  • Port of Oakland reports slow February container volumes as retail activity sputters

  • What’s shaping omnichannel fulfillment strategies?

  • Freight downcycle is closer to the end than the start, ACT says

  • WMS feels the squeeze

Now Playing on DCV-TV

ProMat 2023 DC Velocity Robotics Theater - KNAPP: Robotics: Applications and Technologies

DCV-TV 5: Solution Profiles

FEATURED WHITE PAPERS

  • Five tips for parcel success in 2023

  • Education Series: How, When and Why to Use XR Wearables in Your Industrial Business

  • The Future of Fleet Management: 5 Trends and Influences That Will Drive Logistics in 2023

  • The five best applications for robotic lift trucks in warehouse environments

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing