EUROPE: Port of Hamburg sees rate of decline in cargo throughput begin to slow

Q3 2020 performance at the Port of Hamburg gives 'reason to be optimistic that the double-digit decrease in turnover has ended,' says Port of Hamburg Marketing. Container throughput in Q3 2020 was 2.3 million TEUs, a 4-9% quarter on quarter decline, while total throughput fell back by 8% to 32 million tons. 'We have seen a stabilisation in the development of throughput since July and with it a lower overall decrease in seaborne cargo handling in the Port of Hamburg.

The reasons can be found in the lower rate of infections during the summer and the resulting easing of measures to check the pandemic, along with shipping to fill up stockpiles for the Christmas trade,' said Axel Mattern, joint CEO of Port of Hamburg Marketing. He continued: 'Reliable supply of goods and raw materials for consumers and industry is ensured even under these difficult economic conditions. The port with its terminals and logistics and service providers as well as its transport connections to the hinterland is fully functional.'

In the first nine months of 2020, 93.2 million metric tons of seaborne cargo were loaded or discharged in the Port of Hamburg's terminals. This marks a drop of 10.7% compared to the previous year. Both major segments of cargo throughput were affected and remained significantly below the levels reached a year earlier.

General cargo declined 9.9% to 65.2 million tons and bulk cargo was down 12.4% to 28 million tons.

In terms of container throughput, 6.3 million TEUs were handled in the first nine months of the year, which represents an annualised decrease of 9.9%.

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