The problematic trend in the world economy is affecting Port of Hamburg throughput figures. As in other ports of Northern Europe, seaborne cargo throughput is falling, yet the trend in certain sea trades is positive. As an all-purpose port, Hamburg is profiting from a rise in bulk cargo handling.
As elsewhere, in the Port of Hamburg seaborne cargo throughput for its terminals is currently subject to a challenging economic environment. Persistent geopolitical tension, EU economic sanctions against Russia, high inflation, global reluctance to make purchases and massive warehouse stocks are restraining cargo handling in European ports. In these aggravated conditions, with seaborne cargo throughput of 28.1 million tons in the first quarter of 2023, down 10.2 percent on the same period of the previous year, Germany’s largest post succeeded in maintaining throughput volume at the same level as the final quarter of last year. Container throughput at 18.6 million tons was 15.9 percent lower than in the same period of the previous year, with the total of 1.9 million TEU being 16.9 percent down.
Axel Mattern, CEO of HHM - Port of Hamburg Marketing, stressed that “The tough general economic situation is reflected in current throughput figures for all North Range ports. Among these competitors, Hamburg lies here in mid-field. When comparing quarterly returns for the current and last years, it needs to be remembered that at the beginning of last year, Russia was still the Port of Hamburg’s fourth largest trading partner. Sanctions came into force after the invasion of Ukraine, as is noticeable in this comparison – freight volumes to and from Russia are now missing from the general view. In addition, the at times unstable economic situation in China on account of the pandemic has continued into this year. Neither of these factors were without repercussions on the Port of Hamburg.”
Positive developments in North America trades and on bulk cargo handling
With handling at 152,000 TEU, up 9.5 percent on the previous year, the USA trades remain a positive feature of seaborne container transport via the Port of Hamburg, with the United States continuing to fill second place after China among the Port of Hamburg’s top trading partners. With 31.7 percent growth to 52,000 TEU meanwhile, trade with Canada also grew robustly.
For the remainder of the year, a recovery in Port of Hamburg throughput total may be expected. “During the first three months we had to report an extreme underlying trend statistically, with the very distinct difference in the background economic factors in the first quarters of the years 2022 and 2023. Multiple crises caused disruption of supply chains and weak economic growth. This has affected throughput,” explained Axel Mattern, HHM’s CEO.
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Port of Hamburg
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