The throughput in the port of Rotterdam decreased by 0.4% in the first three quarters of this year. The total throughput therefore equaled 328.6 million tonnes compared to 329.9 million tonnes in the same period of the previous year. However, the Rotterdam container sector saw growth: there was an increase in terms of weight (3.0%) and containers (2.2%). Iron ore and scrap also increased by 2.3 million tonnes (11.1%). The decline in total throughput is mainly due to a lower throughput of coal and crude oil.
Boudewijn Siemons, CEO of Port of Rotterdam Authority: “Global trade saw a tentative recovery in recent months. Consumer confidence has increased and this translated to a growth in container throughput. The drop in the throughput in other segments sadly shows that European industry is still wrestling with a weak competitive position due to high energy costs. These developments come as no surprise. We continue to deal with major challenges on the geopolitical stage and in the global supply chains. We therefore don’t expect to see any major shifts in commodity flows in the remaining months of this year.”
Dry bulk throughput declined by 0.9% in the first three months of 2024, compared to 2023. On the other hand, iron ore and scrap throughput (11.1%) and other dry bulk* (20%) increased. The falling price of iron ore caused by the collapse of Chinese steel production is driving European steel mills to purchase iron ore, in spite of a modest demand for steel in Europe. Coal throughput fell further in the third quarter by 26.6% compared to the first nine months of 2023, when throughput also dropped by 17%. Thermal coal throughput saw the largest decline. Coal-fired power plants are increasingly losing ground as a source of power. In the first nine months of this year, coal-fired power plants in the Netherlands and Germany accounted for 6% and 20% of the electricity mix, respectively. Renewables represented a 58% share in the Dutch electricity mix and a 59% share in the German electricity mix. The throughput of agribulk increased by 2.0% after correction (*). Soybean supply fell due to higher soybean prices as a result of a poor harvest and rising demand from China. The supply of maize from Ukraine (via Romania) has once again increased, after it fell significantly in 2023 due to the war in Ukraine. Maize is used as feed stock for bioethanol production, among other things. The throughput of other dry bulk increased by 20% after correction (*) due to higher throughput on the buoys and dolphins, mainly of stones. The throughput of raw materials also increased at various stevedores. Although energy-intensive industries, in particular, are still struggling, stocks are slowly being replenished.
Liquid bulk
The throughput of liquid bulk fell by -1.7% in the first nine months of this year. This is due to a reduced throughput of crude oil, LNG and other liquid bulk. The drop in crude oil throughput of 3.6% and 2.7 million tonnes was caused by unforeseen maintenance at a German refinery and low refinery margins. Throughput of mineral oil products shows an increase of 4% and, in particular, the throughput of fuel oil and kerosene increased. Throughput of LNG as a source of natural gas dropped a little under last year’s throughput of 300,000 tonnes. Natural gas reserves in Europe are high, requiring less supply. Also, LNG prices in Asia are slightly higher than in Europe, so spot cargoes are heading more frequently to Asia. The other liquid bulk segment saw a decline of 4.4%. This decline is particularly visible in biofuels. There are fewer exports due to a lowering of blending percentages.
Containers and breakbulk
The container throughput recovery has continued in recent months. Throughput in tonnes showed an increase of 3.0% (from 98.1 million tonnes to 101.1 million tonnes) and in TEUs (standard unit for containers), throughput increased by 2.2% to 10.4 million TEUs. The increase is mainly due to increasing consumer spending in Europe. Spending is rising again after a period of lower purchasing power. Stocks that were run down after the pandemic are now back to previous levels. Since industrial production in Europe has not yet fully recovered, exports of finished goods such as capital goods and automotive parts are lagging behind. Uncertainties due to reroutes around the Cape of Good Hope led to an early peak season in summer. In September, however, some services were diverted via other ports. Volumes in Rotterdam were therefore lower this month. Congestion at ports in Asia, the Middle East and southern Europe experienced earlier this year have now eased. Due to the limited vessel capacity, the number of port calls is still lower than last year, resulting in very full vessels. This means that terminals at the port and in the hinterland are still facing peak loads.
Throughput of the breakbulk segment (Roll-on/Roll-off and other breakbulk) showed a decline of 4.7%. RoRo traffic declined further by 3.5% to 19.2 million tonnes due to the economic situation in the United Kingdom. The other breakbulk segment also fell by 9.5% to 4.5 million tonnes due to less storage and throughput of steel and non-ferrous metal.
