Cargo volumes at Port of Rotterdam fall for fourth consecutive year

For the fourth year in a row, cargo volumes at the Port of Rotterdam have decreased. The decline was largely the result of reduced transshipment of mineral oil products, iron ore, and coal. Container traffic did rise, however, as imports from Asia increased. In total, throughput dropped 1.7 percent to 428.4 million tons in the past year.

Throughput last rose in 2021, as the Port of Rotterdam recovered from the downturn caused by the coronavirus pandemic. Since then, the numbers have been pressured by geopolitical uncertainty, sluggish economic conditions, and falling volumes of coal and crude oil.

The decline in iron ore and coal last year is the result of pressure on the European steel industry, the port authority said. High energy costs and competition from low-priced imports have put the sector under strain. Imports of coking coal for blast furnaces decreased significantly, while the throughput of coal used for power generation dropped in the latter half of the year as gas and other energy sources became cheaper.

The number of containers handled increased 3.1 percent to 14.2 million 20-foot equivalent units. The rise was largely due to a more than 9 percent jump in imports from Asia. At the same time, European exports weakened, leading to a higher share of empty containers in circulation. As a result, total container volumes measured by weight edged down to 133.2 million tons.

While shipments of crude oil increased at the Port of Rotterdam, the transshipment of mineral products dropped by more than 12 percent.

Boudewijn Siemons, CEO of Havenbedrijf Rotterdam, described the past year as “challenging, with chemical and logistics companies in the port under intense pressure.” Several chemical plants in Rotterdam were shut down, and investment in both new and ongoing projects was paused. Worries over these developments “remain substantial.”

So far, the Port of Rotterdam has shown minimal signs of disruption from American import duties. The tariffs had “virtually no” effect on port activity last year, according to Siemons.

Revenue from port fees and leasing port properties pushed the port authority’s turnover up by almost 7 percent, reaching 940.4 million euros. Profit before taxes, interest, and depreciation grew 3.6 percent to 583.6 million euros. The port authority refers to this as a "financially stable year."