The Global Container Port Capacity Index in July 2023 decreased by 3.3% compared to the previous month, and this decline is attributed to various issues related to capacity and weather conditions. This index, calculated based on monthly capacity data from over 340 ports worldwide, reflects the current state of the maritime transport industry.
Details of the Capacity Index Decrease
The Global Container Port Capacity Index, which has been set to a base of 100 since January 2019, also shows a 1.3% decrease compared to last year. Overall, the average growth rate of port capacity over the past year has reached 3.8%, which is the lowest recorded level in over two years. In this context, global capacity growth has only been 2.2% this year up to July.
Impact of Storms on Major Ports
In July, three major storms disrupted operations at two of the world's largest ports in a short period. However, operations in the North and Southeast Asia regions stabilized in August, although the Port of Busan faced more pressure due to closures in China.
The container port capacity index in Greater China decreased by 6.6% in July, while it has increased by 1.1% compared to last year. Chinese ports operated at high utilization levels in the first half of 2023, leading to increased traffic at the country's largest ports. This situation was exacerbated by the occurrence of three storms within the last five weeks, putting additional pressure on port capacities.
In North America, the container port capacity index increased by 0.6% compared to the previous month, but it has decreased by 1.0% compared to last year. While overall volume in this region has increased, the two main gateways, Los Angeles and Long Beach, saw decreases of 5.8% and 1.7%, respectively, in July.
In Europe, the container port capacity index decreased by 1.3% and shows a 2.2% decrease compared to last year. Major ports in Northwestern Europe have performed poorly in the first half of this year. For example, year-to-date volumes at the Port of Antwerp-Bruges have decreased by 1.5%, while the Port of Bremerhaven is the only port with a positive trend, recording a growth of 6.3%.
Given these statistics and the current situation, it appears that the maritime transport industry is facing serious challenges regarding capacity and traffic. These challenges could have significant impacts on global trade and supply chains.
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