EUROGATE’s Volumes Slightly Down in 2017
- Business & Finance
Bremen-based terminal operator EUROGATE ended 2017 with a slight decrease in its total container volumes, handling 14.4 million TEUs.
This was a drop of 1.4 percent, compared to 14.6 million TEUs seen in 2016.
The company said that “despite the ongoing rearrangements of several shipping consortia in the past financial year, EUROGATE was once again able to keep container handling volumes stable.”
The container terminals in Bremerhaven recorded a throughput of 5.5 million tons, an increase of 0.9 percent year-over-year. At this location, reshaping of the large shipping consortia and the resulting extensive scheduling changes in April/May 2017 impacted the volumes positively during the second part of the year, according to EUROGATE.
At EUROGATE Container Terminal Hamburg, handling volumes dropped by 25.6 percent to 1.7 million TEUs. The restructuring of the alliances and consequential loss of customers as well as the bankruptcy of the long-standing customer Hanjin had a negative impact, as explained by the terminal operator.
With an increase of 15.1 percent in 2017, EUROGATE Container Terminal Wilhelmshaven recorded double-digit growth for the second consecutive year. This was a result of the new alliance structure as monthly handling volumes doubled from May onwards.
Moreover, the new location in Limassol also got off to a good start, with a handling volume in the region of 345,000 TEUs in its first year of operation.
“On balance, the results generated by the container terminals will be improved in comparison to the previous year, which in light of the slight downturn that the overall trend in container turnover is facing, is pleasant. Bremerhaven and Wilhelmshaven certainly benefited from the realignment of the shipping alliances,” Michael Blach, Chairman of the EUROGATE Group Management Board, commented.
“Although 2017 was a good year, the year-end results have shown that it has become generally more difficult to generate sustained positive earnings,” Blach added.