The figures released by the Port of Beirut (PoB) showed that the Port’s revenues fell by 14.64% year-on-year (YOY) to stand at $166.5M by October 2019, down from $195.05M in the same time last year.
In details, Total container activity including transshipment (TEU+TS) fell by 2.3%YOY to stand at 1.07 twenty-foot equivalent unit (TEU). In fact, Transshipment activity (TS) recorded an annual uptick of 15.5% to reach 421,911 TEU by October 2019. However, container activity excluding transshipment (TEU) in its turn fell by 11.23% to 646,384 TEU over the same period.
The transshipment volume of CMA CGM, one of the two major shipping lines operating at the port, fell by an annual 12.6% to reach 146,777 TEU while the transshipment activity of MSC rose by 54.05% to 203,541 TEU by October 2019.
In addition, the Total volume of imported and exported merchandise declined by an annual 12.2% to 5.75M tons, with the number of imported cars sliding by a yearly 12.11% to 4,991, as linked to the subdued demand on cars amid the country’s economic and political developments since October 17th. The number of ships docking at PoB also fell by a yearly 5.3% to 1,502 by Oct. 2019.
Port of Beirut’s Total Revenues by October ($M)