Port of Beirut activity
unfazed despite of war

Significant growth in revenues

The Port of Beirut (PoB) saw minimal changes in activity in 2024 compared to the previous year, reflecting a stable activity in spite of war. According to figures published by PoB, the total volume of imported and exported goods reached nearly 6,000 tons, marking only a one percent increase from 2023. Similarly, the number of vessels docking at the port rose by just 2.6 percent to 2,029 ships.

Revenues have grown from $150 million in 2013 to an estimated $217 million.

The first half of 2024 recorded an average 14 percent increase in port activity, driven by a surge in imports and exports. However, the momentum reversed in the second half of the year, with an average ten percent decline, as a result of threat of war, then actual war.

The number of cars that entered through PoB was 20,000, a 20 percent decline from the previous year.

The top three shipping agencies at PoB are Merit (CMA-CGM group), Mediterranean Shipping Company (MSC), and Gezairi Transport.

Container activity saw a downturn, with the total number of containers handled at the PoB decreasing by eight percent to 760,000 TEUs (Twenty-foot Equivalent Units). The primary factor behind this drop was a sharp 27 percent decline in transshipment activity. In contrast, locally destined containers increased by 1.6 percent, suggesting that domestic demand remained relatively stable despite broader security challenges.

The decline in transshipment volumes raises concerns about the port’s regional competitiveness. Beirut has historically been a key hub for regional trade, but shifting maritime routes and economic uncertainties may be affecting its role. Additionally, competition from other Eastern Mediterranean ports, such as those in Egypt and Turkey, could be drawing business away from Lebanon’s main port.

Despite these challenges, the Port of Beirut remains a crucial economic gateway for Lebanon, handling the majority of the country’s imports and exports. However, with global shipping trends evolving and regional trade dynamics shifting, policymakers and stakeholders will need to strategise on how to sustain and enhance the port’s relevance in the years ahead.

Looking forward, industry experts suggest that investment in infrastructure, improved Customs procedures, and regional trade agreements could help stabilize and potentially boost port activity. Whether these measures will be implemented effectively remains to be seen, but for now, the Port of Beirut appears to be treading water in an increasingly competitive maritime landscape.