Posted on May 22, 2023
The German Port of Hamburg says ‘the problematic trend in the world economy’ affected its throughput figures in the first quarter of the year.
At 1.9 million TEU, container throughput was 16.9% down on Q1 2022. Seaborne cargo throughput of 28.1 million tonnes in the first quarter of 2023 was down 10.2% on the same period of the previous year.
‘The tough general economic situation is reflected in current throughput figures for all North Range ports. Among these competitors, Hamburg lies here in midfield,’ said Axel Mattern, CEO of HHM – Port of Hamburg Marketing.
Matten said it was important to consider that during the same period in 2022, Russia was still the Port of Hamburg’s fourth largest trading partner.
‘Sanctions came into force after the invasion of Ukraine, as is noticeable in this comparison – freight volumes to and from Russia are now missing from the general view,’ Mattern said.
‘In addition, the at times unstable economic situation in China on account of the pandemic has continued into this year. Neither of these factors were without repercussions on the Port of Hamburg.’
In addition to developments in the European and world economies, local strikes also impacted the Port of Hamburg’s annual result, the port said.
Looking ahead, a recovery in total throughput ‘may be expected’ for the remainder of the year, said the port.