Geopolitical and macroeconomic context weighs heavy on quarterly Port of Antwerp-Bruges figures

The total throughput of Port of Antwerp-Bruges totalled 68.7 million metric tonnes in the first quarter of 2023, a drop of 4.5% compared with the same period last year. This decline is due to continuing geopolitical and macroeconomic complexities, which have led to a drop in the container segment and significant shifts in cargo flows. The port continues to respond to these challenges through a committed to sustainable growth with new and existing partners.

Operational challenges at container terminals and congestion have slowly declined since the third quarter of 2022 when economic uncertainty and inflation led to a global slowdown in demand for container traffic and the cancellation of sailings, particularly those from the Far East. This and 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, resulted in a 6.6% drop in container throughput in tonnes and 5.7% in TEUs, compared with the first quarter of 2022.

Conventional breakbulk throughput volumes are in line with the pre-COVID-19 period, but down 19.8% compared with a very strong first quarter in 2022, when a robust post-pandemic recovery resulted in high throughput figures. The slowing economy is accompanied by a decline in steel demand. This caused a 21.9% drop in throughput of steel, both in arrivals and outflows.

The dry bulk segment is down 7.3%, ​ mainly due to the decline in fertilisers, the largest product group within dry bulk. Although their production has been increasing since March, due to the fall in energy prices, overall throughput of fertilisers was still down 26.4% during the first quarter. In turn, 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. Throughput of sand and gravel also increased (+9.3%).

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, bunker oil and energy gases. Chemical throughput is picking up compared with the last quarter of 2022, when high energy prices resulted in lower production rates or complete stoppages, but 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. Throughput of all transport equipment has grown by 4.3%, while unaccompanied cargo (excluding containers) is showing a decrease (-2.4%.) The share of these volumes related to the United Kingdom fell by 5.6% in the first quarter, while traffic to and from Ireland increased by 14.2%.

Port of Antwerp-Bruges remains the largest car port 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.

In the first three months of 2023, Zeebrugge welcomed 29 cruise ships; a new record. Efforts to spread cruise tourism throughout the year are delivering a new first-quarter record. In the first quarter, 4,944 ocean-going vessels called at the port, down 3.7%. The gross tonnage of these vessels fell by 3.8%.

Consolidating role as a world port: merged port attractive to investors

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. American company, PureCycle, for example, announced the construction of a plastic recycling plant in the NextGen District, a hotspot for the circular economy in the heart of Antwerp's port site, where excavation work will start later this year.

In addition, global player Vopak, a Dutch tank storage company, will sustainably redevelop the former Gunvor site in Antwerp. The company will work with 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.

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 months 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).

Jacques Vandermeiren, CEO Port of Antwerp-Bruges: "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. 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."

Annick De Ridder, Port Alderman of the City of Antwerp and Chairman of the Port of Antwerp-Bruges Board of Directors: "Together with the innovative port companies and the new pioneers who are bringing a range of jobs to our port, we remain committed to 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. Filling the many vacancies is a significant challenge in this regard. To this end, we will soon launch a promotional campaign and a digital job platform together with our partners."

Dirk De fauw, Mayor of the City of Bruges and Vice President of Port of Antwerp-Bruges: "Port of Antwerp-Bruges is the world player for the automotive sector. That position will only strengthen given the investments in additional capacity by existing operators and new players who choose our port as a base from which to conquer the European market. I am therefore confident that we can again realise growth here in 2023. Furthermore, the record number of cruise ships that called at Zeebrugge this first quarter is confirmation that efforts to better spread cruise tourism throughout the year have succeeded. In the quieter winter months, cruise tourism is a boon to the tourist industry in Bruges, Blankenberge, Brussels, Ghent, Ypres and Antwerp."

We have collected the key port facts & figures of 2022 in a booklet. You can download the digital version below.

About Port of Antwerp

As Europe's second-largest port, Port of Antwerp is a major lifeline for the Belgian economy: more than 300 line services to over 800 destinations ensure global connectivity. Port of Antwerp annually handles around 231 million tonnes of international maritime freight, and is home to Europe's largest integrated chemical cluster. Port of Antwerp accounts, directly and indirectly, for a total of around 143.000 jobs and more than €20 billion added value. ​ 

True to its mission 'a home port vital for a sustainable future’, Antwerp Port Authority aims to flexibly respond to a rapidly evolving maritime market, allowing the port to continue playing its role as a leading world port. The emphasis in this respect is on cooperation, adaptability, a strong focus on innovation and digitisation, and on sustainable added value, as well as on responsibility towards society. 

Antwerp Port Authority is a limited liability company of public law, with the City of Antwerp as sole shareholder. It employs over 1.600 people. Port alderman Annick De Ridder is chairman of the Board of Directors and Jacques Vandermeiren is CEO and President of the Executive Committee, which is responsible for the day-to-day management. www.portofantwerp.com

The telephone number +32 492 15 41 39 is only for press inquiries. For other questions you can mail to [email protected]