S&P Global Reveals Major Changes in Port Performance During Q3

In an eye-opening report from S&P Global Ratings, it was disclosed that there has been a substantial shift in port performance during the third quarter of 2023, particularly in the United States. The data indicated a sharp 26 per cent year-on-year decrease in the average call size at major ports along the US West Coast. This report also featured insights on container port performance at key ports in the United States, China, and Southeast Asia, as detailed by Port Technology Int’l.

The analysis from S&P Global revealed a decline in container movements on ocean-going ships across all US regions. Despite this drop in demand, the report also highlighted notable improvements in operational performance throughout these regions. One significant indication was the increase in port-moves-per-hour (PMPH), a critical measure of productivity, which rose by over 66 per cent year-on-year in Q3 2023 at Gulf ports and by more than 90 per cent year-on-year at major East Coast ports.

Moreover, the report unveiled that yard productivity in the US has seen an uptick, with West Coast ports reducing median import and export container dwell time by 30 per cent and 45 per cent, respectively. Additionally, ship waiting time has significantly decreased on all US coastlines, with the East Coast ports experiencing the most substantial drop at 78 per cent year-on-year.

In terms of Chinese port performance, S&P Global observed continued improvements, with the main Chinese gates showing a 30 per cent year-on-year surge in PMPH. Meanwhile, Southeast Asian ports saw an increase in container movements on ocean-going ships, solidifying the region’s position as a sourcing destination in global supply chains.

This insightful information provides a comprehensive overview of the changes in port performance throughout the third quarter of 2023. The data suggests not only a decline in container movements in the United States but also significant enhancements in operational efficiency and productivity. The achievements and challenges highlighted in the report offer valuable insights into the current state of the global maritime industry.

As the world continues to navigate the complexities of international trade and supply chain management, the findings from S&P Global shed light on the evolving dynamics within ports across different regions. Understanding these shifts in port performance is crucial for stakeholders in the maritime industry, paving the way for informed decision-making and strategic planning.

In conclusion, the report from S&P Global serves as a valuable resource for industry professionals, policymakers, and analysts, offering a detailed examination of port performance trends and their implications. This comprehensive analysis lays the groundwork for further exploration and discussion on the current state of global port operations and the potential opportunities for growth and improvement in the future.