Port of Rotterdam reduces container volume and profit in the first half of 2023

Port of Rotterdam, Netherlands

At the same time, Rotterdam's container throughput in tons reached 64.4 million tons in the first six months of 2023, down 9.3% year-on-year.

Port of Rotterdam Authority believes that the cessation of cargo shipments to and from Russia and the drop in imports from Asia are the main reasons for the drop in container volumes.

Meanwhile, RoRo (roll-on/roll-off) dedicated vessel traffic decreased by 3.2%, to 13.3 million tons. In addition to falling demand due to inflation and high cargo inventories, the RoRo vessel segment was also impacted by the weak UK economy, according to the port's statement.

In addition, the general cargo segment decreased to 3.4 million tons, marking a decrease of 11.5% compared to the same period last year. “The main reason is that a lot of general cargo is again being shipped in containers given the low container rates,” noted Dutch Port.

During the same period, the Port of Rotterdam Authority saw an increase in revenue but lower income and profit.

Revenue, mainly from port fees, and rental and leasehold income, was EUR 4.3 million (USD 4.8 million) higher than in the first half of 2022 and reached EUR 416.5 million (USD 465 million). However, operating expenses also increased by EUR 10.2 million (USD 11.4 million) to EUR 134.6 million (USD 149 million).

As a result, profit before tax, interest, depreciation and amortisation (EBITDA) fell EUR 5.9 million (USD 6.5 million) to EUR 281.9 million (USD 316.3 million) and net profit fell by EUR 26.1 million (USD 29 million) to EUR 116.5 million (USD 130 million).

Source: Phaata.com (According to ContainerNews)

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