The Port of Hamburg reported a decline in cargo volume in the first half of the year due to global economic uncertainties which continue to affect shipping.
Germany's largest seaport saw its first-half general cargo throughput decline 11.1% year-on-year to 39.2 million tons.
Terminal operators in the Port of Hamburg handled 58.2 million tons of seaborne cargoes — also noting a reduction of 5.8% compared to the same period in 2022.
"Both the tense economic situation in Europe, especially in Germany, and background geopolitical factors continue to have repercussions on throughput in the Port of Hamburg," the port said in the announcement.
Nonetheless, it added that the seaport recorded a gain of 7.7% in bulk cargo throughput at 19 million tons.
As one of the world's largest rail ports, it added that landward hinterland throughput is a significant aspect.
For the period, the Port of Hamburg saw tonnage totalling 23.1 million tons or just 2.1% lower — which the gateway noted reflects "almost maintained" transport volume in the segment.
"On a comparison with other North Sea ports in the North Range, it is absolutely clear that all players in this market are subject to the same tough prevailing circumstances," commented Axel Mattern, CEO of HHM – Port of Hamburg Marketing.
Recovery in container handling
The port said container handling in the gateway improved in every month of the first half. In June, it was 10.2% higher than in January.
A comparison of the first two quarters indicates a 4.6% rise in container throughput.
In total, the port said 3.8 million TEU crossed the quay walls then, a fall of 11.7% in comparison with the same period of the previous year.
Container throughput on a tonnage basis totalled 38.7 million tons, being 10.8% lower.
Meanwhile, the Port of Hamburg attributed the positive trend in bulk cargoes "to all sectors" — with agribulk increasing 18.6% to 3.5 million tons; liquid cargoes up 18.1% to 5.3 million tons; and grab cargoes at 10.2 million tons were also at "almost the previous level," according to the port.
The Port of Hamburg said there have also been "positive developments" in trade with further markets, like America.
Further growth expected in the Americas, Asia
It said that the US continues to take second place among the Port of Hamburg's trading partners, next to China — and was able to further consolidate this position with a 7.4% increase and throughput of 313,000 TEU.
Canada advanced by 6.7% to 95,000 TEU; and with 108,000 TEU, Central America achieved a 6.3% increase.
"It is on these routes that further growth is expected in the coming years as the Port of Hamburg develops as an energy hub," the port said.
"Over the next few years, it is especially on these routes that further growth can be expected in the wake of the Port of Hamburg’s expansion as an energy hub."
Dr Melanie Leonhard, Hamburg’s Senator of Economics, said the port aims to establish close trading relations with a broad spectrum of partner countries ", especially against a background of mounting uncertainty and global upheavals."
"Increased dialogue with North and South America, along with India as a significant growth market, is a highly promising indicator in that context," Leonhard added.
Port of Hamburg also noted "positive developments" in many parts of Asia like India, Japan and Thailand.
"The opportunities in foreign trade with North America and S.E. Asia are obvious to us. We are working with great commitment to expanding our intermeshed HUB solutions and infrastructures internationally, especially in North America and S.E. Asia," said Dennis Hübner, CEO of Deufol.
"This positive trend is also reflected in the gratifying results of foreign trade with these regions. DEUFOL, including the Wallmann Terminal in Hamburg, is actively working on further promoting these developments and on offering innovative and sustainable end-to2-end solutions for global heavy-lift logistics," he added.
For the period, the Port of Hamburg noted that 135 vessels in the largest, Megamax class called the gateway, representing 15.4% growth.
Larger container ships with slot capacities of more than 10,000 TEU were also calling the Port of Hamburg more frequently again — increasing by 6.2%.
Rest of 2023 difficult to predict
"Persistent challenging economic and geo-political circumstances do not allow firm predictions to be made on the development of throughput in the Port of Hamburg," said Mattern.
We are assuming that at least the slightly positive trend of the second quarter will continue. How the year will develop further depends directly on the economic mood in Germany and geopolitical developments," the CEO of Port of Hamburg Marketing added.
