Following 2 months of dwindling activity, Port of Beirut saw its revenues dropping by 1.61% y-o-y to $50.70M by March 2015, compared to the faster 7.5% yearly slump in revenues witnessed as of February of the same year. In fact, total container activity including transshipment retreated by 13.06% y-o-y to 252,630 Twenty Foot Equivalent Units (TEU). In detail, transshipment volume alone experienced an 18.24% y-o-y downturn in activity to 88,620 TEU, while container activity excluding transshipment saw a yearly 9.98% reduction to 164,010 TEU.
MSC and CMA CGM, the two major shipping companies operating in the port, witnessed annual declines in transshipment activity of 25.84% and 16.48% to 42,903 TEU and 39,045 TEU.
The diminishing trade activity was also apparent in the total volume of exported and imported merchandise, which suffered an annual 15.51% downtick to 1.81M tons as of end-March. In parallel, shipping activity at the port’s docks slid by a yearly 16.50% to 425 vessels, down from 509 in Q1 2014.