Posted on July 23, 2024
Cargo throughput in the port of Rotterdam remained virtually unchanged in the first half of 2024 compared to the same period last year, according to the company’s release. Cargo throughput reached 220.0 million tonnes. This is 0.3% lower than in the same period in 2023 (220.7 million tonnes).
The decline was mainly due to less handling of coal, crude oil and other liquid bulk. In contrast, throughput of iron ore and scrap, other dry bulk, mineral-oil products and containers increased. Container throughput increased by 4.2% (in tonnage) and 2.2% (in TEUs) due to increasing (consumer) demand and an early peak season.
Port of Rotterdam Authority investments in the first half of the year include construction starting on CO2 transport and storage project Porthos, awarding of the contract for the construction of the Prinses Alexia viaduct and the Port of Rotterdam Authority invested in making the port of Rotterdam more digitally resilient.
The Port of Rotterdam Authority’s financial results were robust in the first half year of 2024. Compared to the first half of 2023, revenues – earned primarily from seaport dues and rental and leasehold income – increased by € 23.0 million to € 439.6 million. Operating expenses increased by € 13.3 million to € 147.9 million. As a result, earnings before tax, interest, depreciation and amortisation rose by € 9.7 million to € 291.7 million. The net result increased by € 31.7 million to € 148.2 million. The larger increase in net result is caused by two items from 2023 for a combined €15.3 million, which will not be repeated this year. Gross investments in the first half of 2024 amounted to € 164.4 million, including capital injections in participating interests (HY1 2023: € 135.7 million). The main investment in the first half of 2024 is the widening of the Yangtzekanaal (€15.8 million). Of the capital injections, €20.4 million relates to Porthos.
Dry bulk handling increased by 2.1% compared to the same period last year. The increase is mainly driven by higher throughput volumes of iron ore and scrap. This segment increased by 12.6% to 14.6 million tonnes due to higher steel and iron production in Germany in the first half of the year. Throughput of coal decreased by 2.4 million tonnes (-19.7%) due to low demand for thermal coal for power generation. Solar and wind are increasingly used as renewable sources for power generation. Throughput of coking coal also fell, despite the increase in steel production in Germany. Due to sufficient stock accumulation last year, supply decreased in the first half of the year.
Throughput of agribulk decreased by 1.2 million tonnes due to low demand for soybeans as a result of certain processes moving to the United States. Other dry bulk (raw materials for various industrial applications and the construction sector) shows an increase. The throughput figures for agribulk (-19.3%) and other dry bulk (80.7%) show large deviations compared to 2023.
Due to a correction in 2023 to an erroneous declaration in the seaport dues system in 2022, these figures show a distorted picture. Without the correction, agribulk shows a decrease of 5.1% and other dry bulk shows an increase of 20.7%.
In the first half of the year, 3.1% less liquid bulk was handled. Some 5.8% less crude oil was handled due to maintenance at some Rotterdam refineries in the first quarter. As a result, lower volumes were processed and fewer imports were needed. Throughput of mineral oil products rose 4.7% to 28.6 million tonnes in the first half of the year. At 6.0 million tonnes (0.3%) in the first half of the year, throughput of LNG was similar to last year. The other liquid bulk segment declined by 7.9%.
In the first half of the year, container throughput increased by 4.2% in tonnes to 67.1 million tonnes by 2.2% expressed in TEUs, to 6.8 million TEU. The first quarter already saw a slight recovery in container throughput. This trend continued in the second quarter.
Roll-on Roll-off (RoRo) traffic decreased by 4.1% to 12.8 million tonnes due to a weak UK economy. The other breakbulk segment fell 10.5% to 3.1 million tonnes. This is due to the containerisation of general cargo and the shifting of various cargo packages to other ports.
