The seven major port operators account for over 40% of the global port throughput

Although the number of global container terminal operators on the Derry Global Container Terminal Operator Ranking remains unchanged at 21 in 2023, its composition has undergone significant changes. The latest Global Container Terminal Operators Annual Review and Forecast report released by Delury has added Adani Port Group, AD Ports, and Hapag Lloyd to the list, while SAAM and Bollor é have exited the list due to their acquisitions.

The report states that global container terminal operators have achieved rapid growth through continuous expansion through mergers and acquisitions and investment portfolios. In 2023, the annual growth rate of equity throughput of 21 terminal operators is 2.3%, far higher than the global terminal throughput growth rate of 0.3%.

The leading position of the world's largest terminal operators in the ranking has been further strengthened. According to equity throughput calculations, the top seven operators handle over 40% of global port throughput, including PSA International, China Merchants Ports, COSCO Shipping, APMT (Maersk Terminal), DP World (Dubai Globe), Hutchison Ports, and MSC (Mediterranean Shipping). The Deluri report shows that in 2023, the equity throughput of the seven major terminal operators will all exceed 40 million TEUs, while the throughput difference between the lower ranked operators and the top operators on the list is 30 million TEUs.

Market share of top terminal operators in 2023

PSA International still maintains its top position, with an annual port equity throughput of 62.6 million TEUs, a year-on-year increase of 4.6%, and a market share rising to 7.2%. This is mainly due to the increase in throughput of its home port, Singapore Port. In 2023, Singapore Port completed a container throughput of 39.01 million TEUs, a year-on-year increase of 4.6%, setting a historical record. China Merchants Port ranks second with an equity throughput of 55 million TEUs, with a year-on-year growth rate of 8.7%. It is worth mentioning that in September 2022, China Merchants Port officially became the second largest shareholder of Ningbo Port, and Ningbo Port contributed a large amount of equity throughput throughout 2023. COSCO Shipping ranks third with a container throughput of 53.8 million TEUs. APMT、DP World、 The equity throughput of Heji Port has declined to varying degrees, and these three major port operators have large main control terminals in developed regions. The decline in throughput of European and American ports in 2023 has dragged down their performance. Among the top seven operators, MSC has the highest growth rate due to its acquisition of Bollor é (later renamed AGL) in December 2022, which has driven strong growth in equity throughput. MSC currently has two major dock platforms, TiL and AGL. Adani Port first entered the list and ranked 13th with 6.5 million TEUs, ranking first among new operators on the list, with huge potential for further ranking improvement. Deluri predicts that the rankings of Abu Dhabi Ports Group and Hapag Lloyd are expected to improve in the future, and the impact of their acquisition in 2023 on the entire year will be evident.

Global Leading Terminal Operators' Equity Throughput in 2023

In terms of revenue from global leading terminal operators' equity throughput in 2023, although terminal fees have risen due to inflation, global ports will no longer be congested and operator warehousing revenue will return to normal levels in 2023. Driven by strong demand in the United States, global container terminal revenue at Drewry began to rise in the fourth quarter of 2023. The cascading effect of the Red Sea crisis has accelerated the upward trend of terminal revenue in the first quarter of 2024.

In terms of expenditure, the total capital expenditure of terminal operators sampled in the Deluri report for 2023 was 5.5 billion US dollars, a year-on-year increase of 9%, and the third consecutive year of growth since 2020. Five operators have capital expenditures exceeding $500 million for terminal expansion and equipment renewal projects, with PSA International and DP World spending over $1 billion.

In addition, 20 out of the 21 operators on the ranking have announced commitments to net zero emissions targets. Although most companies plan to achieve net zero emissions by 2050, APMT and Adani Port aim to achieve this goal by 2040, while Hapag Lloyd has set its goal for 2045.