ROTTERDAM, The Netherlands,
Dec. 30, 2009
(Press Release) -
Throughput in the port of Rotterdam for the year 2009 ended up two million tonnes higher than suggested by the provisional figures published at the end of December 2009. The percentage decline in throughput is 8.1%, instead of the 8.5% initially calculated. The difference is due primarily to a slightly smaller decline in imports of crude oil. In the other goods categories, small(er) differences are involved.
This report has been updated to reflect the final figures (original text of December 2009).
In 2009, goods throughput in the port of Rotterdam fell to 387 million tonnes. This is 8.1% down on 2008. Imports shrank by 12.7% to 273 million tonnes; exports increased by 5.1% to 114 million tonnes. Bulk was 8.4% down on the previous year; general cargo fell by 7.5%. There was less incoming and outgoing trade in agribulk (-20%), ores and scrap (-47.1%), coal (-15%), other dry bulk (-15%), crude oil (-4%), other liquid bulk (-15.8%), roll on/roll off (-10.6%), other general cargo(-18.4%) and containers (-6.3%). Only the handling of mineral oil products showed a positive trend (+23.2%), actually achieving the biggest absolute increase (13 million tonnes) ever.
Hans Smits, Port of Rotterdam Authority CEO: "Considering the circumstances, we cannot be dissatisfied. After hitting rock bottom in the second quarter, throughput has been improving slightly every month and virtually all the investments are going ahead. Moreover, Rotterdam is doing better than its main rivals. But I am not unconcerned. Many of our clients are having a difficult time and that will not be much different in 2010. The best medicine for this is growth, partly through an increase in our market shares. We therefore intend to continue with our active commercial policy. As a result of this, among other things, I hope that we will be able to break through the 400 million tonne barrier again next year. That means growth in throughput considerably over 3%".
Dry bulk
The total quantity of dry bulk handled was down by 29.8% to almost 67 million tonnes.
The quantity of coal handled fell to 24.8 million tonnes. In the first few months of the year, coal imports remained reasonably stable due to the cold winter, ongoing contracts and the effects of trade. After the winter, energy consumption fell in both the Netherlands and Germany and coal's share declined more strongly than that of the other energy sources. Throughput of cokes coal, about 40% of coal imports into Rotterdam, reflected the plummeting steel production. With the recovering economy and a mine closure in Germany, modest growth in coal throughput is expected in 2010.
Ore and scrap throughput almost halved (-47.1%) to 23,3 million tonnes. Falling demand for steel led to the temporary closure of many blast furnaces in Northwest Europe and a dramatic decline in the handling of ore. Most of the blast furnaces have started operating again, but under capacity. In 2010, the utilisation rate can be increased to 80%. As a result, ore imports could increase to a possible 30 million tonnes.
Other dry bulk was 13% down, to 10.2 million tonnes. The main consumers in this sector, the chemical and metal industry, are suffering from the economic crisis. The decline is still being compensated for to some extent by the gradual export of a few million tonnes of asphalt from a storage facility in the port area. Without this incidental flow, but with slightly increasing demand for minerals, ores and concentrates, throughput figures for other dry bulk could end up at 9 million tonnes next year.
The handling of agribulk (grains, oil seeds, derivatives) fell sharply: - 20% to 8.3 million tonnes. Europe had a good 2008-2009 harvest. As a result, fewer imports from overseas were necessary. In Rotterdam, the accent is on imports. In addition to this, imports were influenced negatively by a ban on genetically modified maize and reduced milk production. Due to the low milk prices, farmers used more grass and hay and less - imported - oil seeds.
Liquid bulk
The volume of liquid bulk handled rose by 2.1% to 198 million tonnes. Imports of crude oil fell by 4% to 96.4 million tonnes. Demand for oil products was down and refining margins fell, as a result of which it became unavoidable to limit production. In comparison with other regions, however, Rotterdam did noticeably better thanks to the strength of the petrochemical cluster. This and the anticipated increase in the refining margins counterbalance the high commodity stocks and the slow increase in demand in the OECD countries. In 2010, therefore, slightly higher throughput figures for crude oil are expected.
Imports of oil products increased by 16.5% to 42.2 million tonnes, exports by 34.1% to 29.9 million tonnes. In total, a record quantity of 72 million tonnes (+23%) was handled. Comparable growth percentages have already been seen four times since 2000, but the absolute growth of 13 million tonnes is the largest ever. This is attributable for about two-thirds to gas oil/diesel throughput. Forward prices for this commodity were higher throughout the year than the spot prices ('contango'), so that storage paid off. Up to the end of the summer, there was also good 'arbitrage' (price differential between two regions minus freight costs), which attracted cargo from Asia, Russia and America to Europe. Thirdly, extra jetty and tank capacity was created, as a result of which the port was able to handle more cargo. A little more fuel oil - in absolute terms the most important product - was handled: around 36 million tonnes. Naphtha throughput fell slightly and that of kerosene was up by about 10%.
There was a 15.8% decline in other liquid bulk throughput, to 29.5 million tonnes. The main cause of this is the 20-30% fall in production in the chemical industry. The handling of vegetable oils was up again, thanks to imports of crude palm oil for the refineries. However, there was a substantial decline in the handling of soybean oil, sunflower oil and rapeseed oil. Biofuels (biodiesel, ethanol and ETBE) were also down. The moderate sugar harvest put pressure on Brazilian exports of ethanol. This was compensated for partly by imports of ethanol from Spain and France via Rotterdam. Imports of biodiesel fell due to the European measures taken against the American B99 mix. This made way for the import of more biodiesel from Argentina, however.
General cargo
The general cargo sector had a poor year as a consequence of declining world trade, although the total fall of -7.5% to 122.2 million tonnes is a reasonable result in comparison with rival ports. This definitely also applies to the handling of containers, which was 6.3% down on last year, but managed to remain just above 100 million tonnes. As fewer empty containers were handled, the decline in units was -9.6% to 9,743.290 TEU. Rotterdam is doing well in the largest 'trade' in quantitative terms, that between Europe and Asia. Shipping lines combined services and deployed the biggest possible vessels to reduce costs. What Rotterdam has to offer (location, depth, hinterland transport, port tariffs) is tailored well to this and means that the port can benefit from the trend. Container traffic within Europe, mainly to the major destinations such as England, Ireland and Spain, was hit quite hard, however. The services to North and South America are sharing in the malaise. The Baltic trade, mostly involving feeder traffic linked to the Asia services, is really flourishing, however.
The roll-on / roll-off sector is geared virtually solely towards the British market. The crisis, which hit there early and hard, has not led to an earlier onset of recovery. This is further hampered by the value of the pound in relation to the euro. England and the Rotterdam services are focused very much on imports. In addition to the imbalance, the North Sea is characterised by the fierce competition between ferry services and with the container services and the Channel Tunnel. Taken together the handling of roro units declined 10.6% to 16 million tonnes. In the slightly longer term, the investments related to the Olympic Games offer positive prospects, which will buttress the investments in the expansion of capacity for Stena and Cobelfret, among other things.
Other general cargo, -18.4% to 6 million tonnes, was hit quite badly by the crisis. The handling of steel and non-ferrous metals accounts for around 70% of volume in the sector. Both depend heavily on those sectors hit hard by the crisis, such as the construction and automotive industry. The decline in non-ferrous metals remained limited, but steel throughput was down by a third. Storage is on the increase, however. The handling of paper products and fruit fell slightly and project cargo remained stable. The number of cars driven off the ships plummeted by about 70%.
