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The Port of Hamburg, Europe's largest port, saw a 6.9% drop in cargo volume, making it difficult to predict 2024

Karen 2024-02-29 17:53:19

The Port of Hamburg, Europe's largest port, saw a 6.9% drop in cargo volume, making it difficult to predict 2024

Cargo traffic at the Port of Hamburg in northern Germany fell 6.9 percent last year to 7.7 million equivalent units (TEUs), and volumes in 2024 are difficult to predict, the Port of Hamburg Marketing Industry Association (HHM) said on Tuesday.sea freight forwarder door to door service


Alex Mattern, head of the United States and Mexico law firm, said the main reason for the decline was the difficult geopolitical and economic situation faced by all market participants. The association also said there were no bottlenecks at the port.sea freight forwarder door to door service

The Port of HAMBURG is located on the right bank of the lower Elbe River in northern Germany, near Helgoland Bay, and is the largest port in Germany and the second largest container port in Europe.sea freight forwarder​​​​​​​ door to door service

Founded in 1189, the Port of Hamburg has developed into the world's largest free port with a history of more than 800 years. At the center of the free port is the world's largest warehouse city, covering an area of 500,000 square meters. It is different from other seaports because it is located at the center of the European market of the European Community, the European Free Trade Association and the CEFTA, thus making it the most important transit seaport in Europe. It is an important railway and air rights in Germany, the city across the Elbe River on both sides, the city's canals, many Bridges, at the bottom of the Elbe River there is a cross tunnel. Industry and commerce are also very developed, is the shipbuilding industry center of Germany.

Just last year, MSC, the world's largest container liner, beat heavyweight rivals to acquire 49.1% of Hamburg Logistics (HHLA), the largest terminal operator in the Port of Hamburg. However, due to the decline in cargo volume, HHLA's financial performance in 2023 was poor.agent shipping china

According to HHLA's final audited financial report, HHLA's container throughput fell from 6.4 million TEU in 2022 to 5.9 million TEU in 2023, a year-on-year decrease of 7.5%. The decline in freight volume caused HHLA operating profit (EBIT) to plummet to €109 million from €220 million in the previous year. The operating results were below HHLA's own expectations for earnings of €115 million to €135 million. In the Port of Hamburg, container intake at the HHLA container terminal compared to 2022
That's a decline of 6.3 percent.agent shipping china

Today, the Port of Hamburg is facing challenges from competitors such as Rotterdam, Antwerp, Bruges and Gdansk.agent shipping china

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