Port of Szczecin-Swinoujście reduced iron ore transshipment by 43.5% y/y in Q1

In March, the port complex reduced the handling of cargo handling equipment by 18.4%

In January-March 2024, the Szczecin-Swinoujście port complex in Poland reduced iron ore transshipment by 43.5% compared to the same period in 2023, to 175.9 thousand tons. This is evidenced by the data on the company’s website.

In March 2024, the port handled 90.9 thousand tons of iron ore, which is 18.4% less than in March 2023.

In general, in the first quarter, the port complex reduced cargo transshipment by 19.4% compared to the same period in 2023, to 7.57 million tons. In March, transshipment decreased by 17.6% y/y – to 2.69 million tons.

Among the main cargoes handled by the port during the quarter:

• coal – 198.9 thousand tons (-85.3% y/y);
• grain – 623.6 thousand tons (+34.1% y/y);
• gas – 861.6 thousand tons (-23% y/y).

Container handling by the port amounted to 17.43 thousand TEU (-12.9% y/y).

As GMK Center reported earlier, in 2023, Szczecin-Swinoujście reduced iron ore transshipment by 46.1% year-on-year – to 1.14 million tons. In December 2023, the port handled 40.5 thousand tons of iron ore, which is 29% less than in December 2022.

The seaports of Poland – Gdansk, Gdynia and Szczecin-Swinoujście – handled 145.72 million tons of cargo in 2023, up 9.8% compared to 2022 and 28.8% compared to 2021, which is a record high overall.

In 2020, the decline in cargo handling in Polish ports was caused by the effects of the COVID-19 pandemic, after reaching a record high in 2019. In 2021, the results of seaports recovered slightly, but in 2022 there was a sharp increase in transshipment, which is likely due to the beginning of the full-scale Russian invasion of Ukraine and changes in logistics flows.

In 2024, the volume of Ukrainian cargoes that will go through the ports of Poland is likely to decrease significantly, as some of them will be shipped by Ukrainian ports after the sea corridor starts operating in August 2023. In the future, the corridor’s capacity is likely to increase and dependence on Polish ports will decrease, although they will remain an important destination until the full de-blockade of domestic ports.