Global maritime shifts impact container port
performance; large Asian ports continue to excel
NEW
YORK and WASHINGTON,
June 4,
2024 /PRNewswire/ -- The newest global Container Port
Performance Index (CPPI) reveals that East and Southeast Asian
ports excelled in 2023, accounting for 13 of the top 20 places.
Developed by the World Bank and S&P Global Market
Intelligence, the fourth edition of CPPI is based on the biggest
dataset ever: more than 182,000 vessel calls, 238.2 million moves,
and about 381 million twenty-foot equivalents (TEUs)
for the full calendar year of 2023. More
than 80% of merchandise trade is transported by sea, so the
resilience, efficiency, and overall performance of ports is crucial
to global markets and economic development.
Regional disruptions impacted port performance everywhere,
according to the new report.
"While the challenges caused by the COVID-19 pandemic and its
aftermath eased further in 2023, container shipping continues to be
an unpredictable and volatile sector," said Martin Humphreys, Lead Transport Economist at
the World Bank. "Major ports need to invest in resilience,
new technology, and green infrastructure to ensure the stability of
global markets and the sustainability of the shipping
industry."
There are 57 new ports in the CPPI 2023, including Muuga Harbour
in Estonia and Port of Al Duqm in
Oman, as well as several notable
movers. One of the major Indian ports, Visakhapatnam Port, made it
into the top 20. Despite its relatively low ranking, Dar es Salaam
Port in Tanzania managed to shave
ship arrival times by 57%. Meanwhile, some Middle Eastern ports,
such as those in the United Arab
Emirates, Saudi Arabia and
Qatar, experienced a decline from
their previous high rankings.
"There is a greater awareness and focus on resilience and
efficiency of maritime gateways and greater understanding of
negative impact of port delays on economic development," said
Turloch Mooney, Head of Port Intelligence & Analytics
at S&P Global Market Intelligence. "The highly
interconnected nature of container shipping means the negative
effect of poor performance in a port can extend beyond that port's
hinterland and disrupt entire schedules. This increases the cost of
imports and exports, reduces competitiveness and hinders economic
growth and poverty reduction."
Looking at the top-performing ports, China's Yangshan Port earned the top spot for
the second consecutive year, while Oman's Port of Salalah retained the number two
position. The port of Cartagena in Colombia ascended to 3rd place.
Tanger-Mediterranean of Morocco
held steady in 4th, and Tanjung Pelepas Port in
Malaysia rounded out the top
5.
The CPPI ranks 405 global container ports by efficiency,
focusing on the duration of port stay for container
vessels. Its primary aim is to identify areas for enhancement
for the benefit of multiple stakeholders in the global trading
system and supply chains, from ports to shipping lines, national
governments, and consumers.
The full index can be found here.
Contacts:
World Bank
Erin Scronce
Tel: +1 (202) 473 3082
escronce@worldbank.org
S&P Global Market Intelligence
SungHa Park
Tel: +81 3 6262 1757
sungha.park@spglobal.com
About the Container Port Performance Index (CPPI)
Developed by the World Bank and S&P Global Market
Intelligence, the global Container Port Performance Index is a
comparable index of global container port performance intended to
serve as a reference point for key stakeholders in the global
economy, including national governments, port authorities,
development agencies, supra-national organizations and private
operators of trade, logistics and supply chain services.
About the World Bank
(www.worldbank.org/transport)
The World Bank Group has a bold vision: to create a world free
of poverty on a livable planet. In more than 100 countries, the
World Bank Group provides financing, advice, and innovative
solutions that improve lives by creating jobs, strengthening
economic growth, and confronting the most urgent global development
challenges. The World Bank Group is one of the largest sources of
funding and knowledge for developing countries. It consists of the
World Bank, including the International Bank for Reconstruction and
Development (IBRD) and the International Development Association
(IDA); the International Finance Corporation (IFC); the
Multilateral Investment Guarantee Agency (MIGA); and the
International Centre for Settlement of Investment Disputes (ICSID).
For more information, please visit www.worldbank.org, www.miga.org,
and www.ifc.org.
About S&P Global Market Intelligence
(www.spglobal.com/marketintelligence)
At S&P Global Market Intelligence, we understand the
importance of accurate, deep and insightful information. Our team
of experts delivers unrivaled insights and leading data and
technology solutions, partnering with customers to expand their
perspective, operate with confidence, and make decisions with
conviction.
S&P Global Market Intelligence is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information, visit
www.spglobal.com/marketintelligence
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SOURCE S&P Global Market Intelligence