SIMIC

"We expect China's throughput growth in full-year 2021 to be the highest in 10 years," said Drewry analysts.

The indices, calculated by London's Drewry Maritime Research are a series of volume growth/decline measures based on monthly cargo throughput data for 235 ports worldwide, representing over 75 per cent of global volume. The base point is January 2012 =100.

Annual growth of 15.8 per cent for July confirms that the worldwide volume recovery is showing no signs of slowing. Container throughput is expected to increase further through the 3Q21 peak season, after which we anticipate a modest seasonal slowdown in the final quarter.

Greater China ports index recorded a 9.8 per cent year-on-year increase in May with growth mostly concentrated at the largest Chinese gateways, Shanghai, Ningbo, Shenzhen, Qingdao, Tianjin and Xiamen, or 65 per cent of total throughput of the region.

The May throughput index for Asia (non China) increased 1.4 per cent month-on-month to 134.6 points, but the annual comparison returned an impressive increase of 15.8 per cent with the top three regional hubs enjoying double-digit annual growth.

In percentage terms, Port Kelang recorded the highest growth of 33 per cent while in absolute terms, Singapore topped the list by handling 3.2 million TEU, an increase of 410,183 TEU over April 2021.