Beirut Port freight activity receded to around 459 thousand tons during the month of August 2024, down from 516 thousand tons in the previous month. On a cumulative basis, freight activity rose by 5.04% y-o-y during the first eight months of 2024 to 3,659 thousand tons up from 3,483 thousand tons a year earlier. The number of vessels increased by 14.99% year-on-year to 1,028 in comparison with 894 a year earlier, while the number of imported cars contracted by 28.70% to 27,779 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 513,866 thousand TEUs (including transshipments) up to August 2024 in comparison with a higher cargo capacity of some 562,820 thousand TEUs in the same period last year.