Port of Rotterdam increased its ore and scrap transshipment by 12.6% y/y in the first half of the year

In the first half of 2024, the Port of Rotterdam increased its transshipment of iron ore and scrap by 12.6% y/y – to 14.6 million tons. This is reported by S&P Global with reference to the port administration.

In January-June of this year, the total volume of cargo transshipment amounted to 220 million tons, which is slightly lower than 220.7 million tons in the same period last year. The decrease in crude oil transshipment was offset by an increase in container and dry cargo volumes.

Total dry cargo transshipment volumes increased by 2.1% year-on-year to 35.5 million tons, mainly due to higher volumes of iron ore and scrap.

Coal transshipment in January-June decreased by 19.7% y/y – to 10 million tons due to low demand for thermal coal for electricity generation. Agricultural cargo transportation volumes fell by 19.3% y/y – to 4.8 million tons.

According to Budewayne Simons, CEO of the port authority, after a period of economic uncertainty, demand for raw materials and consumer goods is starting to grow. Whether this trend will continue in other segments will partly depend on the pace of recovery of European industry in the coming months.

As GMK Center reported earlier, in June 2024, Ukrainian seaports handled 1.2 million tons of iron ore, up from 0.2 million tons in June 2023. The total cargo turnover for the month reached 7 million tons, which is 1.5 times higher than in June 2023. Grain was the leader in transshipment, with 4.4 million tons compared to 3.4 million tons a year earlier.