In order to more accurately examine developing trends in gross cargo throughput, we have modeled the probability distribution of cargo throughput. Gross cargo throughput is determined by the time spent by cargo ships in the port and the operating efficiency of handling equipment. Gross cargo throughput is the sum of all compound variables determining each aspect of cargo throughput for every cargo ship arriving at the port. Probability distribution was determined using the Wald equation. The results show that the variability of gross cargo throughput primarily depends on the different times required by different cargo ships arriving at the port. This model overcomes the shortcoming of previous models: inability to accurately determine the probability of a specific value of future gross cargo throughput. Our proposed model of cargo throughput depends on the relationship between time required by a cargo ship arriving at the port and the operational capacity of handling equipment at the port. At the same time, key factors affecting gross cargo throughput are analyzed. In order to test the efficiency of the model, the cargo volume of a port in Shandong Province was used as an example. In the case study the actual results matched our theoretical analysis.