Chattogram Port retains 67th position in global container handling ranking
Chattogram Port has maintained its 67th position on Lloyd's List of the world's top 100 ports based on container handling statistics.
The latest ranking, released by Lloyd's List, a London-based shipping media outlet, reflects the port's performance in 2023 as per its latest report.
In 2023, Chattogram Port handled 30,50,793 TEUs (Twenty-foot Equivalent Units), a slight decrease from the 31,42,504 TEUs handled in 2022. This represents a 2.9% decline in container handling year-on-year.
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The port's import-export container handling dropped by 91,711 TEUs during this period.
Earlier, Chattogram Port was also ranked 67th in the list of the top 100 ports for 2023.
Md. Omar Faruk, secretary of the Chattogram Port Authority, told TBS that the global economic slowdown in 2023, driven by the Russia-Ukraine war, caused economic challenges, including a sharp rise in the value of the US dollar in Bangladesh. In response, the government imposed strict regulations on luxury goods imports. As a result, importers struggled to open Letters of Credit (LCs), which further contributed to the decline in container handling at the port that year.
Port officials emphasised that similar trends were observed in ports worldwide in 2023, which prevented Chattogram Port from dropping in rank despite the reduced container volume. They noted that without the global downturn, the port's ranking might have slipped further due to the lower handling figures.
According to Lloyd's List, Shanghai Port in China retained its top position, handling 49,158,300 TEUs in 2023, followed by Singapore Port, which handled 39,010,000 TEUs.
Chattogram Port plays a crucial role in Bangladesh's economy, handling 92% of the country's total sea trade and 98% of its container traffic. However, containers account for only 27% of the total cargo transported through the port, with the remaining 73% transported by bulk carriers and tankers.
The port's ranking on Lloyd's List has seen significant improvements over the years.
It was ranked 88th in 2010, 89th in 2011, 90th in 2012, 86th in 2013, 87th in 2014, 76th in 2015, 71st in 2016, 70th in 2017, 64th in 2018, 58th in 2019, and 67th in 2020.
In 2021, Chattogram Port climbed three places to 64th, before returning to 67th in both 2022 and 2023.
