In 2023, most European ports saw declines in traffic. However, the first half of 2024 showed a turnaround, with seven of the 15 largest ports reporting double-digit growth.

Sines in Portugal recorded a significant 25% increase in container throughput, while Valencia saw a 14.2% rise, and Barcelona experienced a 23.6% jump.

France’s HAROPA complex grew by 16%, Bremerhaven in Germany by 12.8%, Gioia Tauro in Italy by 11.9%, and Gdańsk in Poland by 10%, despite ongoing expansion work at the Baltic Hub.

Ranking changes
The port of Piraeus, a key Mediterranean hub, recorded a nearly 13% drop in transshipment during the first half of 2024. This decline is largely attributed to increased Houthi attacks in the Red Sea, which have restricted transit through the Suez Canal, making the eastern Mediterranean a difficult region to navigate.

The Suez Canal is well known to be one of the world’s most important trade routes, with approximately 20,000 ships passing through annually. In 2023, revenues from canal crossing fees hit a record $9.4 billion. However, in the first two months of 2024, trade through the Suez Canal dropped by 50% compared to the same period the previous year, causing significant losses for the region, including Mediterranean ports.

While Mediterranean ports are struggling, Spanish ports are experiencing notable growth. Disruptions in the Red Sea have led to the rerouting of ships, increasing transshipment in Spanish ports and positioning them as key hubs in global trade.

In the first half of 2024, the largest Spanish ports saw significant growth: Barcelona by 23.6%, Valencia by 14.2%, and Algeciras by just under 3%, marking a substantial improvement compared to the previous year’s declines.

In contrast, ports in Italy and France have maintained relatively stable positions, mainly due to the diversification of trade routes, which has helped them continue operations despite global supply chain disruptions.

Theo Notteboom, professor at Ghent University and a member of PortEconomics, predicts changes in the ranking of European ports in 2024. According to Notteboom, if current trends persist throughout the year, notable shifts can be expected in the coming months.

The Benelux ports of Rotterdam and Antwerp-Bruges will remain the largest European container ports by far. We expect Valencia to overtake Piraeus to become the fourth-largest port in the European Union. Additionally, Algeciras and Bremerhaven may surpass Piraeus, potentially pushing the Greek port down to seventh place, just behind Barcelona. French HAROPA is also expected to rise two spots to claim the tenth position in the rankings,” said Theo Notteboom.

Source: Trans Info