Quarterly Trade Report

SUMMARY

Overall cargo tonnage has increased 6.2% this quarter from the previous quarter. This is in line with the seasonality of previous years which typically show a significant increase in tonnage between Q1 and Q2. 

This was true for most cargo types however oil tonnage was flat from Q1 and remains 4.5% below this time last year. Aggregate tonnage increased this quarter but is still 6.8% lower than last year. 

After a high Q1 steel had a correspondingly low Q2 but remains 13% up on this time last year. Vegetable oils and other goods had a strong Q2 and are significantly up on last year. This quarter is the highest recorded quarterly tonnage in the last five years and shows that even accounting for the Houthi Rebel affected volumes last year, tonnage for the port is significantly up on 2024. This has been primarily driven by a large increase in container tonnage at our largest terminals.