The latest Container Port Performance Index (CPPI) released by the World Bank indicates notable achievements by East and Southeast Asian ports in 2023, with 13 of them securing positions within the top 20.
Constructed through collaboration between the World Bank and S&P Global Market Intelligence, the fourth edition of CPPI is based on an extensive dataset, encompassing over 182,000 vessel calls, 238.2 million moves, and roughly 381 million twenty-foot equivalents (TEUs) throughout the entirety of 2023. Given that over 80% of global merchandise trade relies on maritime transportation, the effectiveness and efficiency of ports hold significant importance for global markets and economic progress.
According to the report, regional disruptions have had widespread impacts on port performance worldwide.
Martin Humphreys, Lead Transport Economist at the World Bank, remarked, “Although challenges stemming from the COVID-19 pandemic have somewhat subsided in 2023, the container shipping sector remains unpredictable and volatile. Major ports must prioritize investments in resilience, innovative technology, and environmentally friendly infrastructure to ensure the stability of global markets and the sustainability of the shipping industry.”
The CPPI for 2023 introduces 57 new ports, including Muuga Harbour in Estonia and the Port of Al Duqm in Oman, alongside several notable advancements. Despite its relatively low ranking, Visakhapatnam Port in India entered the top 20. Moreover, Dar es Salaam Port in Tanzania notably reduced ship arrival times by 57%.
Turloch Mooney, Head of Port Intelligence & Analytics at S&P Global Market Intelligence, highlighted, “There is growing attention on the resilience and efficiency of maritime gateways, with a better understanding of the adverse effects of port delays on economic development. The interconnected nature of container shipping underscores how poor performance in one port can disrupt entire schedules, increasing import-export costs, reducing competitiveness, and hindering economic growth and poverty alleviation.”
Examining the top-performing ports, Yangshan Port in China retained its leading position for the second consecutive year, followed by the Port of Salalah in Oman at second place. Notable shifts include the port of Cartagena in Colombia rising to third place, Tanger-Mediterranean in Morocco maintaining fourth place, and Tanjung Pelepas Port in Malaysia securing the fifth spot.
The CPPI evaluates 405 global container ports based on efficiency, primarily focusing on the duration of port stays for container vessels. Its objective is to identify areas for improvement beneficial to various stakeholders, including ports, shipping lines, governments, and consumers.
Stay on top of supply chain logistics news updates at The Supply Chain Report. Visit ADAMftd.com for free international trade tools.
#GlobalTrade #ContainerPorts #PortPerformance #SupplyChainDisruptions #LogisticsTrends#SupplyChainNews
