Port of Melbourne sees increase in February container volumes compared to previous year

In a recent update released on Wednesday, the Port of Melbourne has revealed significant growth in trade activities, marking a positive trend for the region’s economy. The Trade Update – February 24, provided insights into the bustling maritime operations at one of Australia’s busiest ports.

According to the report, February 2024 witnessed a notable increase in total container throughput compared to the same period in 2023, with a total of 262,250 Twenty-foot Equivalent Units (TEU) handled. This surge in container traffic indicates a buoyant trade environment and reflects the resilience of the port amidst economic fluctuations.

Strong import performance

Full container imports, excluding those through the Bass Strait, saw a remarkable uptick in volumes compared to the previous year.

Commodities such as furniture, machinery, domestic appliances, and paperboard witnessed substantial increases in import volumes, surpassing the levels recorded in the preceding year.

This surge underscores the growing demand for a diverse range of goods in the local market.

Robust export growth

Full container exports, excluding those through the Bass Strait, also experienced a notable surge in volumes during February 2024 compared to the previous year.

Essential agricultural products such as hay, chaff & fodder, fresh fruit, barley, and packaged beef recorded significant increases in export volumes, showcasing the region’s strength in agricultural production and export capabilities.

Increase in empty container movements

The report also highlighted a rise in total empty container movements for February 2024 compared to the previous year. This increase signifies enhanced logistical operations and reflects the port’s efficiency in managing container inventories, ensuring optimal utilization of resources.

The positive trends observed in the Port of Melbourne’s trade activities for February 2024 reflect a promising outlook for the region’s economy. The surge in both import and export volumes across various sectors underscores the port’s vital role as a key facilitator of trade and commerce. Moreover, the increase in empty container movements indicates robust activity levels and efficient port operations.