A trade war caused by import tariffs would be detrimental to Port of Rotterdam, CEO says

A trade war as a result of the threat of import tariffs by the President of the United States, Donald Trump, would be detrimental to the Port of Rotterdam. Trade obstructions are bad for the global economy and will also harm the largest seaport in Europe, said the CEO of the Port of Rotterdam Authority, Boudewijn Siemons, during an explanation about the annual figures.

What the precise impact will be on, for example, transshipment in Rotterdam is hard to say, according to the CEO. He calculated that Europe trades 52.5 million tons with the United States via the port of Rotterdam.

In addition, Europa also imports over 44 million tons from the U.S. via Rotterdam, with a large share of this being oil products and crude oil. The European exports to the United States are around 7.5 million tons, and this also mainly consists of energy-related products.

According to Siemons, it is not logical that the U.S. will impose tariffs on this because Trump wants to export more American gas, and levies make that more expensive. "But I also read newspapers and often see things that I find illogical but that people in Washington find logical," he warned.

The CEO said that it is important for the position of North Western Europe that the investment climate for the industrial sector in the port area stays at a good level. He also reiterated the problems for the industrial sector that were previously mentioned in an urgent letter.

“I am talking about a Gunvor, who said that they cannot earn money here. Indorama has decided to stop producing Polyethylene Terephthalate, and that is just the tip of the iceberg. We are talking with sectors that do not all want to be named but are struggling,” he said. “It is not something that will cause everybody to shut their doors tomorrow, but it will be a disaster in slow motion if we do not do something together.”

The Port of Rotterdam Authority is working with the Port of Antwerp to raise concerns about its competitive position in Brussels. Siemons thinks that the issues for the Industrial sector in Rotterdam are the surplus of rules, high electricity prices in comparison with the U.S. grid congestion, and the issues related to nitrogen. These issues are also blocking investments in sustainability in the sector.

“But the positive is that our message seems to be landing,” said Siemons, who pointed out that the European Commission will come up with plans next week to keep the European Industrial sector competitive and to make it more sustainable.

Siemons raised these issues a few days after it was reported that fewer goods were transported via the Port of Rotterdam last year. Transshipment fell by 0.7 percent in 2024. This was mainly due to less coal and crude oil being shipped via Europe's largest seaport.

This had no major impact on the financial results of the Port of Rotterdam Authority. Thanks to higher income from the rental of port sites, turnover rose by almost 5 percent to 882 million euros. Port dues fell slightly. Profit before deduction of taxes, interest, and depreciation rose by 2.7 percent to 563.5 million euros.

The port authority also invested 11 percent more, a total of 320.6 million euros. That money went to "traditional" matters such as quay walls and jetties, but also to infrastructure for sustainability. For example, the port is investing money in the CO2 storage project Porthos. In addition, the port authority invested more in digitalization.