The figures released by the Port of Beirut (PoB) revealed an annual slump of 13.94% in the Port’s revenues which settled at $184.6M by November 2019, compared to last year’s $214.4M.
In details, Total container activity including transshipment (TEU+TS) declined by 3.72% year-on-year (YOY) to 1.16M twenty-foot equivalent unit (TEU). In fact, Transshipment activity (TS) alone, climbed by a yearly 16.13% to stand at 461,115 TEU by November 2019 while Container activity excluding transshipment (TEU) decreased by an annual 13.51% to 696,042 TEU over the same period.
In turn, the transshipment volume of CMA CGM, one of the two major shipping lines operating at the port, declined by an annual 9.2% to reach 165,288 TEU while the transshipment activity of MSC rose by a yearly 51.79% to 217,312 TEU by November 2019.
In addition, the Total volume of imported and exported merchandise fell by an annual 15.33% to 6,184 tons, with the number of imported cars slipping by an annual 11.03% to 56,015 by November 2019, which can be partly attributed to the 31.5% annual slump registered in the total new registered cars. In turn, the number of ships docking at PoB also decreased by an annual 4.94% to 1,625 by November 2019.
Port of Beirut’s Total Revenues by November ($M)
Source: Port of Beirut