According to this index developed by the World Bank (WB) and S&P Global Market Intelligence, the port infrastructure of the pearl of the north is ahead, for the second year, of all the ports in Africa and Europe.
The port of Yangshan in China comes first, followed by those of Salalah in Oman and Cartagena in Colombia, while Tanjung Pelepas (Malaysia) closes the top five of the best performing ports, the World Bank said in a statement on Tuesday.
The CPPI Index is a comparative tool intended to serve as a benchmark for key players in the global economy: governments, port authorities, development agencies, supranational organizations and private operators operating in trade, logistics and supply chains.
The index ranks 405 container ports worldwide based on their efficiency, measured in particular by vessel dwell times. Its main aim is to highlight opportunities for improvement that would benefit various stakeholders in the international trading system and global supply chains, from port authorities to shipping companies, national governments and consumers.
Ports in East and Southeast Asia take the lion’s share of the ranking, occupying 13 of the top 20 places globally.
The fourth edition of this index is based on a data set of unprecedented scale, with more than 182,000 port calls recorded over the past year, 238.2 million container movements and approximately 381 million TEUs (twenty-foot equivalent units).
With more than 80% of trade in goods carried by sea, the resilience, efficiency and overall performance of ports play a key role in global markets and economic development, the international financial institution said.
Regional disruptions have affected port performance across the world, according to the new report.
“Even if the challenges and shockwaves caused by the COVID-19 pandemic have eased further in 2023, container shipping remains an unpredictable and volatile sector,” said Martin Humphreys, Lead Transport Economist at the World Bank.
“Major ports must invest in resilience, new technologies and green infrastructure to ensure the stability of global markets and the sustainability of the shipping industry,” Humphreys added, quoted in the press release.
The 2023 CPPI features 57 new ports, including Muuga in Estonia and Duqm in Oman, as well as several notable developments.
“There is now a greater awareness of the importance of resilient and efficient maritime gateways, coupled with a better understanding of the detrimental effects of port wait times on economic development,” notes Turloch Mooney, head of port information and analysis at S&P Global Market Intelligence.
2024-09-15 22:46:30