The container turnover of port of Rotterdam increased by 9.3% yoy in the first six months of 2017 to 6.7 million TEU. Volumes on feeder lines in the European largest container port increased by 22.6%, while on ocean lines rose by 6.3%. According to the report of the port, the growth of turnover, which was ahead of the average market pace, allowed the port to increase its market share in northern Europe transshipment routes to 30.9% compared to 29% an year earlier.
The port explained the growth rate by increasing the productivity of two terminals in the new deepwater area of the port of Maasvlakte 2. For comparison, the increase in transshipment volumes through the port of Antwerp, the main competitor of Rotterdam, slowed down to 1.9% in the first half of the year, due to the need for expansion to ensure further growth.
In total, Rotterdam passed 238 million tons of cargo in the first half of the year, which is 3.9% more than an year ago. Bulk cargoes, accounting for 18% of the total cargo turnover, increased by 5.2% to 41.3 million tons. The volumes of ore and scrap were increased by 1.9%, coal – by 9.8%, agricultural cargo – by 7.7%.
In the segment of liquid cargo, crude oil transshipment volumes increased by 9% to a record 54.9 million tonnes, amid a continuing low oil price. Turnover of oil products decreased by 8.5% as a result of a sharp decline in the volumes of transshipment of Russian oil products. In the report of the Port Authority, the reduction in the export of Russian oil products is explained by the effect of Russia’s introduction of a customs subsidy to stimulate oil refining and, consequently, modernization of the refinery. The modernization in turn led to a reduction in processing volumes. Russian oil products, which through Rotterdam are supplied to Singapore, account for more than a quarter of the total transshipment of petroleum products in the port.
The revenue of the port in the first half of the year was 342 million USD, which is 2.5% more than an year earlier, the total operating expenses increased by 7.3% to 119.8 million USD.