Port of Rotterdam freight volumes rise 15% as economy recovers
Reuters
Published Oct 19, 2021 08:45AM ET
AMSTERDAM (Reuters) - Freight volumes in the port of Rotterdam increased 15% on a yearly basis in the third quarter as international trade continued to recover from its COVID-19 slump, Europe's largest sea port said on Tuesday.
Trade flows to and from Rotterdam have been almost 9% higher in the first nine months of the year, with strong growth in almost all segments, the port said.
"These figures show that the economy is continuing its upward path. Factories, businesses and logistics are operating flat out again to meet increased demand," the port's Chief Executive Allard Castelein said.
Strong consumer spending has pushed container freight back to pre-pandemic levels, the port said, while transport prices rose sharply.
As a consequence, the number of containers arriving in Rotterdam increased faster than the total amount of goods shipped, as transport of relatively heavy, low-value goods declined.
The economic recovery also pushed up demand for bulk goods such as iron ore, used to make steel, crude oil and oil products.
Transport of coal almost doubled in the first nine months of the year, as the supply of wind power and gas was not nearly enough to cover Europe's increasing energy needs.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.