In 2024, the Port of Melbourne achieved its highest annual container trade volume on record, marking a significant milestone for Victoria.
The Australian port handled a total of 3.4 million TEUs, reflecting an increase of over 9% compared to 2023 figures.
“The significant growth in container trade underpins economic activity in Victoria and reflects the state’s diverse business landscape,” commented Saul Cannon, CEO of Port of Melbourne.
Australia’s Minister for Ports and Freight Melissa Horne highlighted the broader economic impact of this achievement, stating, “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.”
The surge in container trade during 2024 was largely driven by an increase in import volumes, particularly consumer goods such as furniture. On the export side, strong agricultural trade was supported by favourable growing conditions and the diverse range of commodities produced in the region.
“We are proud to facilitate the export of agricultural goods, working with growers, shipping lines, and other port users to bring our region’s finest products to the world,” noted Cannon.
As Australia’s largest general cargo and container port, the Port of Melbourne handles more than one-third of the nation’s container trade. Its strategic location enables efficient transport and logistics across southeastern Australia.
Commenting on the Port’s ongoing growth, Cannon stated, “There is a positive and promising trend in trade through Port of Melbourne. We have observed a growth in total trade volumes, including container trade, which is predicted to continue rising.”
With economic and population growth fueling demand in Victoria and southeastern Australia, container trade at the Port of Melbourne is expected to more than double over the next 30 years.
Scott Veenker, Chief Executive of the Committee for Melbourne, emphasized the importance of maintaining strong policy and planning frameworks to support this growth. “Port of Melbourne’s exceptional performance in facilitating record container trade underscores its pivotal role as Australia’s premier trade gateway. It is crucial to maintain and enhance Victoria’s policy and planning settings to continue growing our supply chains and maximising trade opportunities, ensuring the prosperity of the port, Melbourne, and Victoria,” he commented.
