January 20, 2017

Beirut Port revenues drop six percent: Regional transshipment suffered from security issues

Port of Beirut (PoB) and Port of Tripoli (PoT), have made $254 million in revenues in 2016, constituting a six percent decrease from the previous year for POB.

According to the latest PoB statistics, transshipment has fallen 12 percent to 292,000 TEUs (twenty-foot equivalent containers).

Elie Zakhour, Chairman of the International Chamber of Navigation, said: “The countries for which we are a transshipment hub, like Syria, Turkey, and Greece, continue to witness either economic or security turmoil.”

Containers and merchandise for local use have grown seven and six percent respectively.

“The presence of Syrian refugees and increasing aid by international organizations has raised local consumption,” Zakhour said.

Transshipment and local containers, combined, grew by 1.5 percent to 1.1 million TEUs.The number of imported vehicles remained almost stable, at 112,270 units. Contrary to the past four years, the number of vessels has risen 12 percent to 2,000 ships.

Zakhour said: “This is an exception. We have received a lot of feeder vessels from transshipment hubs in Malta, Italy, and Port Saeed.”

Zakhour said: “All in all, this has been a good year. Being able to maintain stability in light of regional changes is a blessing.”

Revenues at PoT, have grown seven percent to $15 million. The total number of merchandise grew to 1.9 million tons, and the number of containers reached 5000 TEUs. The number of vessels dropped six percent to 814.

Reported by Yassmine Alieh