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PORT OF HAMBURG NOTES VOLUME DECLINE IN 2023, BUT STABLE BULK CARGO
February 28, 2024

Port of Hamburg said geopolitical and economic challenges weighed on its throughput in 2023 — reflecting an industry-wide trend — and the decline of the German economy and subdued consumer sentiment further affected the country's largest all-purpose port.

 

It said that in 2023, container throughput at the port declined in comparison to the previous year, although a slight recovery occurred in the second half of the year.

 

"Bulk cargo throughput, however, remained largely stable, ensuring a consistent supply for Germany's economy," Port of Hamburg said.

 

It noted that there was a "positive development" in trade; however, with several American and Southeast Asian countries — and compared to its Northern European competitors, the decline in containerised cargo in Hamburg was less pronounced, allowing the Port of Hamburg to maintain its market share.


Strained economic situation affects cargo

The port said in 2023, the terminals in the Port of Hamburg handled a total of 114.3 million tonnes of goods.

 

Seaborne cargo throughput is thus 4.7% below the level of the previous year.

 

Container throughput for the period amounted to 7.7 million TEU, decreasing by 6.9%.

 

The port said in the first half of 2023, the decline in container throughput amounted to as much as 11.7% compared to the same period in the previous year.

 

"When we look at the development of our throughput figures, we are on the same level as our Northern European competitors and are holding our own well compared to other ports. The decline is primarily due to the difficult geopolitical and economic situation that we all are facing," said Axel Mattern, CEO of Port of Hamburg Marketing.


Nonetheless, the Port of Hamburg reported that bulk cargo throughput — which is important for the supply of the German economy and industry — remained stable in 2023 at 36.2 million tonnes, declining by only 0.25 year-on-year.

 

"With an increase of 8.4% to 6.6 million tonnes, the agribulk business, in particular, recorded strong growth," the port said, adding that in the area of liquid cargo, companies increased throughput to 10.6 million tonnes.

 

Port of Hamburg noted that this equates to a gain of 6.6% compared to the previous year.

 

Record level of US traffic


The port noted that US traffic continued its positive development in the previous years.

 

In total, 653,000 TEUs were handled in 2023 with what has become the Port of Hamburg's second-strongest trading partner — corresponding to a gain of 8% compared to 2022.

 

Throughput with India also developed positively.

 

Port of Hamburg noted that in direct traffic alone, 191,000 TEUs — 5.6% more containers – were handled with the world's most populous country in the past year.

 

"India thus became the Port of Hamburg's eighth most important trading partner," it added, although noting that China continues to lead the list with 2.2 million TEUs handled in 2023.

In 2023, the Port of Hamburg also welcomed more container vessels in the "Megamax" class of 18,000 TEU, continuing the trend towards more large container ships.

 

It said that 272 vessels were handled by the port, rising by 14.8% in 2023.

 

"We are pleased that the number of large container ships calling at Hamburg has increased in the past year," said Friedrich Stuhrmann, CCO at the Hamburg Port Authority (HPA).

 

"The fact that so many of the world's largest container ships call at the Port of Hamburg clearly demonstrates the port’s capability and reliability," he added.


The number of calls by large container ships also rose overall.

 

In 2023, 511 calls by ultra-large container ships of 10,000 TEU or more were recorded — an increase of 5.1% compared to the previous year.

 

Moreover, the number of very large container ships (8,000 to 9,999 TEU) and "Panamax" container ships (4,000 to 5,999 TEU) at the Hamburg terminals increased considerably to 36.7% from 23.1%.

 

Hinterland traffic to and from the Port of Hamburg also turned out relatively robust in 2023, despite the decline in total cargo throughput.

 

It said that hinterland traffic declined by 4.7% only, with a volume of 5.1 million TEUs. Transhipment traffic declined more significantly by 10.9% compared to the previous year, after already exhibiting volatility in the past.

Despite operational challenges, such as strikes and poor weather conditions, the Port of Hamburg noted that rail transported a total of 45.6 million tonnes — dropping only 3.6% — of goods and products via Europe's largest rail port.

Container cargo mirrors this trend.

 

Port of Hamburg said in the previous year, 2.5 million TEUs were transported to or from the hinterland of the Port of Hamburg by rail, marking a 6.4% decline.

 

It said that rail transport constituted nearly half, or 49.75 of all containers in hinterland traffic, with road transport representing 47.9% and inland waterways making up 2.4%.