PORT of Melbourne achieved the highest annual container trade volume ever recorded in 2024, signifying a historic milestone for Victoria, Australia.
The port saw a total of 3.396 million TEU last year, a figure nine per cent higher than 2023 volumes.
Strong container trade was driven by an increase in import trade, particularly consumer goods such as furniture, reports Australia's Trailer Magazine.
Additionally, export trade has benefitted from the diversity of agricultural commodities experiencing favourable growing conditions.
Victorian Minister for Roads and Road Safety and Ports and Freight, Melissa Horne, said: 'The record-breaking trade numbers have delivered a boost to the economy and ensure Victorians have a secure supply of the things they rely on every day through a strong trade gateway - that's why we continue to back our ports and freight industry.'
According to Port of Melbourne, these positive trends are slated to continue. Container trade through the Port is expected to more than double within the next 30 years.
'Port of Melbourne holds a critical position as the trade gateway for southeastern Australia and beyond,' said Port of Melbourne CEO, Saul Cannon.
'The significant growth in container trade underpins economic activity in Victoria and reflects the state's diverse business landscape.'
As demand for trade continues to grow, Port of Melbourne is committed to meeting the growing needs of Victoria.
It has invested more than US$800 million in port infrastructure since 2016 and a further $700 million is expected by 2028.
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The port saw a total of 3.396 million TEU last year, a figure nine per cent higher than 2023 volumes.
Strong container trade was driven by an increase in import trade, particularly consumer goods such as furniture, reports Australia's Trailer Magazine.
Additionally, export trade has benefitted from the diversity of agricultural commodities experiencing favourable growing conditions.
Victorian Minister for Roads and Road Safety and Ports and Freight, Melissa Horne, said: 'The record-breaking trade numbers have delivered a boost to the economy and ensure Victorians have a secure supply of the things they rely on every day through a strong trade gateway - that's why we continue to back our ports and freight industry.'
According to Port of Melbourne, these positive trends are slated to continue. Container trade through the Port is expected to more than double within the next 30 years.
'Port of Melbourne holds a critical position as the trade gateway for southeastern Australia and beyond,' said Port of Melbourne CEO, Saul Cannon.
'The significant growth in container trade underpins economic activity in Victoria and reflects the state's diverse business landscape.'
As demand for trade continues to grow, Port of Melbourne is committed to meeting the growing needs of Victoria.
It has invested more than US$800 million in port infrastructure since 2016 and a further $700 million is expected by 2028.
SeaNews Turkey
