Cargo throughput at the port of Rotterdam remained virtually unchanged in the first half of 2024, reaching 220.0 million tonnes. This represents a slight decline of 0.3% compared to the same period last year. The decrease was primarily due to reduced handling of coal, crude oil, and other liquid bulk. On the flip side, there was an uptick in the throughput of iron ore, scrap, other dry bulk, mineral-oil products, and containers.
Container throughput saw notable growth, increasing by 4.2% in tonnage and 2.2% in TEUs. This rise is attributed to growing consumer demand and an early peak season. Investments by the Port of Rotterdam Authority remained robust in the first half of the year. Key projects included the commencement of the CO2 transport and storage project Porthos, awarding of the Prinses Alexia viaduct construction contract, and efforts to enhance the port’s digital resilience.
Boudewijn Siemons, CEO of the Port of Rotterdam Authority, commented on the development, stating, “After a period of economic uncertainty, we see demand for raw materials and consumer products starting to increase. This led to growth in container throughput in the first half of the year. Whether that trend will continue in other segments will depend partly on the pace of the European industry’s recovery in the coming months. In the meantime, we are holding a steady course and continue to invest in and implement projects to make the energy and raw materials transitions a success and further improve the infrastructure of the port and industrial complex.”
The Port of Rotterdam Authority posted solid financial results for the first half of 2024. Revenues rose by €23.0 million to €439.6 million, primarily from seaport dues and rental and leasehold income. Operating expenses increased by €13.3 million to €147.9 million. Earnings before tax, interest, depreciation, and amortisation climbed by €9.7 million to €291.7 million. The net result surged by €31.7 million to €148.2 million, bolstered by two non-recurrent items totaling €15.3 million from 2023.
Gross investments in the first half of 2024 amounted to €164.4 million, including capital injections in participating interests. The most significant investment was the €15.8 million widening of the Yangtzekanaal, with €20.4 million injected into the Porthos project.
Dry bulk handling increased by 2.1%, driven by higher volumes of iron ore and scrap, which rose by 12.6% to 14.6 million tonnes due to increased steel and iron production in Germany. However, coal throughput decreased by 2.4 million tonnes (-19.7%) due to lower demand for thermal coal for power generation, as renewable energy sources like solar and wind gained traction. Despite increased steel production in Germany, coking coal throughput fell, impacted by sufficient stock accumulation last year.
The agribulk segment saw a decrease of 1.2 million tonnes due to lower demand for soybeans, with certain processes shifting to the United States. However, other dry bulk showed an increase, reflecting the growing demand for raw materials for industrial applications and construction.
Liquid bulk throughput decreased by 3.1%, with crude oil handling down by 5.8% due to maintenance at Rotterdam refineries. Conversely, mineral oil products rose by 4.7% to 28.6 million tonnes. LNG throughput remained stable at 6.0 million tonnes, while other liquid bulk segments declined by 7.9%.
Container throughput growth was driven by increased demand for consumer goods and an early peak season, with importers ordering products earlier due to longer sailing times and fluctuating schedules. Despite congestion in Asia, the Middle East, and southern Europe, north-western Europe experienced limited congestion, though the port and hinterland operations faced challenges due to changes in shipping schedules and increased callsizes.
Roll-on Roll-off (RoRo) traffic declined by 4.1% to 12.8 million tonnes, attributed to a weak UK economy. The other breakbulk segment fell by 10.5% to 3.1 million tonnes due to the containerisation of general cargo and the shifting of various cargo packages to other ports.
