Rotterdam Third Quarter Traffic Data 2020

Port of Rotterdam has released latest throughput results for the first three quarters of 2020.

According to Port of Rotterdam’s analysis:

The port of Rotterdam handled a total of 103.4 million tonnes of freight in the third quarter of 2020. Total throughput over the first nine months of the year stands at 322.3 million tonnes. This is 8.8% lower than the volume recorded in the equivalent period last year. The main throughput categories to record a decline in volumes were crude oil, iron ore, coal and mineral oil products. In contrast, the port could report an increase in agribulk volumes, with only a very modest decline in container throughput.

Dry bulk showed an 18.6% decline compared to the first three quarters of last year. Within this segment, biomass throughput actually increased as a result of the increased firing of this product by Dutch power stations. The growing production of electric power using solar, wind and gas has contributed to a decline in the throughput of thermal coal. Falling steel production in Rotterdam’s hinterland – particularly in Germany – has also had a negative impact on the volumes of iron ore and coke put through the port. Agribulk throughput rose as a result of increased import.

The 10.4% decline in the liquid bulk segment in the first nine months of 2020 was mainly caused by the reduced uptake of crude oil by the refineries that transport this product via Rotterdam. This could mainly be attributed to the exceptionally low refining margins recorded in the past three quarters. These low refining margins were caused by the very low prices for refined oil products – specifically petrol and kerosene – which due to the Covid-19 crisis were in very poor demand in Europe over the past few months. This in turn led to a decline in the throughput of oil products as a result of decreased trade and the retention of existing stock in storage tanks.

LNG imports also declined in recent months as a result of lower import volumes caused by the extensive gas reserves currently found in Europe. Within the other liquid bulk category, biofuels throughput increased thanks to Rotterdam’s strong position in this market. There was a modest decline in the throughput of chemical products due to the decreased import of basic feedstock.

The volume of containers handled in Rotterdam up to and including Q3 fell by 2.1% in tonnes, and 4.7% in TEU. This decline was caused by a stronger decline in the demand for new goods in Europe than in China. So far this year, the decreased import of products from Asia has been accompanied by increased export to Asia, especially meat exports, chemicals and timber. Also Rotterdam’s improved competitiveness in transshipment from Scandinavia and the Baltic to China contributed to more export volume. This means that the port of Rotterdam sends fewer empty containers back than in previous years, when import between Asia and Rotterdam consistently exceeded export.

One of the freight categories hit hardest during the first three quarters of 2020 was roll on/roll off, due to the decreased transport of people and goods to and from the United Kingdom. A very poor second quarter was followed by a strong recovery in the third quarter. This bounce-back can be explained among other things by the stocking up on supplies in Q3 in anticipation of the expiry of the Brexit transition period on 31 December 2020.