The latest statistics on activity at the Port of Beirut show an annual decrease of 15.03% in the revenues of the Port of Beirut (PoB) to $6.40M by October 2021, compared to last year’s $7.54M. We note that no later data on revenue is available as per Port of Beirut statistics.
Accordingly, total container activity including transshipment (TEU+TS) increased by a yearly 15.25% to stand at 57,865 twenty-foot equivalent unit (TEU); container activity (TEU) alone increased remarkably by 17.68% year-on-year (YOY) to stand at 46,362 TEU by March 2022. In its turn, transshipment activity (TS) also increased by 6.36% YOY to 11,503 TEU over the same period. It is interesting to note that despite the rise in fuel prices, the activity at Port of Beirut has increased in the month of March 2022.
In more details, the transshipment volume of CMA CGM one of the two major shipping lines operating at the Port of Beirut slightly increased by 1.32% YOY to stand at 9,444 TEU in March 2022. Also transshipment volume of MSC increased by 5.31% YOY to 1,012 TEU in March 2022. In addition, the local volume of CMA CGM decreased by 9.93% to reach 11,767 TEU, while the local volume of MSC increased substantially by 53.07% to stand at 12,601 TEU for the month of March 2022.
On May 18, 2022, the World Bank and the United Nations Development Program (UNDP) signed an agreement, in the presence of HE Minister of Environment Nasser Yassine, approving to grant Lebanon 10 million United States dollars in order to help diminish the environmental and health side effects caused by the Port of Beirut explosion on August 4, 2020. In addition, it will support a strategic plan for the reconstruction of Beirut. Through this partnership, they will work alongside the ministry of Environment for a green Beirut’s reconstruction.
Yearly total container activity including transshipment (TEU+TS) in twenty-foot in March 2022
Source: PoB, BLOMINVEST