Multipurpose traffic up in the Americas and Africa

Between January and May 2024, port call frequency in Central America, the Caribbean and many parts of Africa has increased significantly. South Africa in particular has seen a 72.8 percent increase in port calls, driven primarily by vessels rerouting around the Cape as they avoid the Suez Canal.

In Cape Town, there were 74 port calls between January and the end of May, a 3.5-time year-on-year increase over the same period of 2023. MACS and BBC Chartering made up more than half of this activity, said Esgian.

“The continuous situation in the Red Sea and risk in the Middle East are still pushing several vessels to reroute around the Cape. In the Suez, from November 2023 to May 2024, the number of unique vessels decreased by 58 percent (93 to 39 ships),” the report said. Conversely, multipurpose vessels around the Cape have increased by 63 percent (83 to 135 ships) in the same period.” Although conditions in the Suez are expected to improve, it is anticipated that a return to normal operational levels for shipping operators will be gradual, said the analyst.

In May 2024, for shortsea operations, port call times remained consistent though the number of calls shows cyclical variations likely driven by economic cycles or seasonal demand shifts. In contrast, deepsea operations exhibit significant fluctuations in port times and the number of port calls, indicating a higher sensitivity to international market conditions, regulatory changes, and operational challenges.

Esgian also provided an overview of the multipurpose fleet CII rating for the sector’s top 10 operators. Covering 2023 and 760 vessels, 132 were classed as Grade A. The largest proportion of vessels fall into Grade B (226), with 158 in Grade C. 107 were considered Grade D, and 137 Grade E. “The presence of many vessels in the Superior (B) and Moderate (C) grades may indicate a solid middle ground in fleet quality, with potential for upgrades or targeted improvements,” said Esgian.