The figures released by the Port of Beirut (PoB) revealed an annual slump of 14.10% in the Port’s revenues which settled at $198.88M by the end of 2019, compared to last year’s $231.53M.
In details, Total container activity including transshipment (TEU+TS) declined by 5.87% year-on-year (YOY) to 1.23M twenty-foot equivalent unit (TEU). In fact, Transshipment activity (TS) alone, climbed by a yearly 14.71% to stand at 495,000 TEU by December 2019 while Container activity excluding transshipment (TEU) decreased by an annual 16.03% to 734,081 TEU over the same period.
In turn, the transshipment volume of CMA CGM, one of the two major shipping lines operating at the port, retreated by an annual 9.28% to reach 177,462 TEU while the transshipment activity of MSC rose by a yearly 47.97% to 232,745 TEU by December 2019.
In addition, the Total volume of imported and exported merchandise fell by an annual 18.29% to 6,524 tons, with the number of imported cars slipping by an annual 9.48% to 61,780 by December 2019 In turn, the number of ships docking at PoB also decreased by an annual 6.73% to 1,746 by December 2019.
Port of Beirut’s Total Revenues by December ($M)
Source: Port of Beirut