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.”
Apart from developments in the European and world economies, the
occurrence of strikes locally also impacted the Port of Hamburg’s
annual result.

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.

Up by 5.4 percent on the same period of last year, at 9.3 million
tons the trend was also positive on bulk cargo handling in Hamburg.
The best performer was the liquid cargo sector, with an increase of
12.3 percent. Imports of oil products rose by 27.4 percent. Since
existing handling capacities facilitated import and further transport
of energy sources required at short notice, the port contributed to
the reliability of energy supplies. The agribulk sector also grew.
Higher exports of grain and feedstuffs, along with higher imports of
oleaginous fruits, fuelled an 11.8 percent growth to 1.8 million
tons. Grab cargo throughput was almost unchanged on the first quarter
of the previous year.
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