Drewry’s Global Container Port Throughput Index fell 0.7% MoM in February, but remained up 6.4% YoY. The dip in volumes during the month was driven by Greater China due to the Lunar New Year holidays. Nonetheless, Greater China and the Middle East and South Asia regions achieved double-digit volume growth in February compared to last year.

• The Greater China Container Port Throughput Index fell 6.3% MoM in February, but was up 10.4% YoY. The 12-month average growth rate in Greater China softened to 6.2%. Given the Chinese New Year holidays, the top 10 ports in the region all recorded a MoM contraction in volumes in February. However, except for Hong Kong and Guangzhou, throughput at the major ports remained ahead of last year. Southeast Asia’s largest ports posted declines in volume in February. Singapore’s throughput fell 12.1% MoM (+3.2% YoY), while traffic at Port Klang dropped 19% MoM (+0.9%  YoY).
• The North American Container Port Throughput Index rose 2.2% MoM in February to 111.7 points, but was down 3.9% YoY. The rolling 12-month average growth rate fell to 0.2%, well below the global average of 5.7%. Volumes at Long Beach slumped 9.5% MoM in February (+0.3% YoY), but the picture was slightly more positive in Los Angeles, where throughput increased 1.5% MoM (+2.9% YoY).
• The European Container Port Throughput Index jumped 11.9% MoM in February, up 4.6% YoY. There were some significant throughput spikes in the East Mediterranean in February, with volumes at Ambarli rising 17% MoM (+ 21% YoY), while at Mersin container traffic rose 23% MoM and nearly 50% YoY. Meanwhile, traffic at Port Said East fell 8% MoM, but was up 43% YoY.