Beirut Port freight activity rallied to around 541 thousand tons during the month of May 2024, up from 362 thousand tons in the previous month. On a cumulative basis, freight activity rose by 4.57% y-o-y during the first five months of 2024 to 2,202 thousand tons up from 2,106 thousand tons a year earlier. The number of vessels increased by 23.20% year-on-year to 632 in comparison with 513 a year earlier, while the number of imported cars contracted by more than 43% to 14,942 cars as people flocked in early 2023 to buying cars ahead of any increases in the applicable exchange rate on custom fees. In a related context, the Beirut port handled containers with a total cargo capacity of around 295.010 thousand TEUs (including transshipments) up to May 2024 in comparison with a higher cargo capacity of some 317.034 thousand TEUs in the same period last year.