Port of Antwerp-Bruges reported that the total throughput of the port amounted to 68.7 million metric tonnes in the first quarter, a drop of 4.5% compared with the same period last year.
It said that this decline is due to the still complex geopolitical and macroeconomic context, which has led to a decline in the container segment and significant shifts in cargo flows.
Nonetheless, it noted that operational challenges at container terminals and congestion have slowly declined since the third quarter of 2022.
"Economic uncertainty and inflation led to a global slowdown in demand for container shipping and the cancellation of sailings, particularly those from the Far East," Port of Antwerp-Bruges said.
"Along with the ongoing conflict in Ukraine, which caused Russia-related traffic in the first three months of 2023 to be two-thirds lower than in the same period last year, this has resulted in a 6.6% drop in container throughput in tonnes and 5.7% in TEUs, compared to the first quarter of 2022," it added.
Port of Antwerp-Bruges reported that conventional general cargo throughput volumes are in line with the pre-COVID-19 period, but down 19.8% compared to a very strong first quarter in 2022, when a robust post-COVID-19 recovery resulted in high throughput figures.
The slowing economy is accompanied by a decline in steel demand. This caused a 21.9% drop in the throughput of steel, both in incoming and outgoing flows.
The dry bulk segment is down 7.3% mainly due to the decline in fertilisers — the largest product group within dry bulk, as overall production slows. The continued high demand for coal for power generation translated into throughput that was almost three times higher than in the same period last year. The port also saw a 9.3% increase in the throughput of sand and gravel.
Port of Antwerp-Bruges added that the liquid bulk segment posted growth of 0.5%. Besides an increase in the throughput of LNG (+23.3%), partly as an alternative to natural gas via pipelines from Russia, there was also growth in the throughput of diesel, fuel oil and energy gases.
The port noted that chemical throughput is also picking up compared to the last quarter of 2022 when high energy prices resulted in lower production rates or complete stoppages. Nonetheless, the port said this still remains 21.3% below the record of the first quarter of last year.
"Roll-on/roll-off traffic is maintaining the status quo, but within the new-car segment, there is a resurgence. The first quarter of 2023, saw 904,901 new cars shipped in and out, up 7.2% from 2022," Port of Antwerp-Bruges said.
It noted that the throughput of all transport equipment has grown by 4.3%, while unaccompanied cargo (excluding containers) is showing a decrease (-2.4%.)
The Port of Antwerp-Bruges is and remains the largest carport in the world.
The terminals have a total area of more than 400 hectares with a parking capacity of 210,000 units. Cars from all major brands in the automotive sector pass through and, for many brands, Port of Antwerp-Bruges is the intercontinental and European hub.
"Several investments in the first months of 2023 have demonstrated that the port, which merged a year ago, is attractive to investors from both home and abroad," the port said as it cited current initiatives at the port including PureCycle for the construction of a plastic recycling plant in the NextGen District; global player Vopak, a Dutch tank storage company, which will sustainably redevelop the former Gunvor site in Antwerp.
The company will work with the Port of Antwerp-Bruges on joint development/fulfilment on the basis of renewable energy, among other things.
"This marks another important step towards a climate-neutral economy. In order to remain a top-class world port, the port must prioritise efficient infrastructure and additional container capacity," Port of Antwerp-Bruges added.
The process of modernising and deepening the Europa Terminal, which has now begun, will ensure that the latest generation of mega-ships can continue to call at this location.
This trend of using ever larger container ships will become even clearer in the coming weeks as records are successively broken by visits by the MSC Tessa (24,116 TEU), the OCCL Spain (24,188 TEU) and the MSC Loreto (24,346 TEU).
Positive 2023 outlook
"These results show that the world port is at the centre of a continuously challenging geopolitical and macroeconomic context. But despite these disappointing figures, the outlook for 2023 remains positive," said Jacques Vandermeiren, CEO of Port of Antwerp-Bruges.
"Falling energy prices, an improving Chinese economy and signs that the liner market is also picking up are reasons to be confident about the future. Moreover, the complementarity of the two port platforms allows us to better respond to shifts in cargo flows," Vandermeiren added.
Annick De Ridder, Port Alderman of the City of Antwerp and Chairman of the Port of Antwerp-Bruges Board of Directors said the port is working with various companies to further promote sustainable growth.
"In addition, investments in strategic infrastructure such as the modernisation of the Europa Terminal are indispensable to ensure our position as a world port and to live up to our role as the economic engine of Flanders," De Ridder said.
