The Port Authority reported on Tuesday that the Port of Antwerp-Bruges witnessed a 6% decrease in cargo throughput, handling a total of 204.4 million tonnes in the first three quarters of

2023 compared to the same period the previous year. The port attributes this decline to the challenging economic conditions. They mentioned unstable geopolitical and economic factors as contributing to reduced global demand for container transport, although other cargo flows displayed mixed performance. Additionally, the port authority noted that rising interest rates and a generally pessimistic economic outlook have impacted the situation. Despite these challenges, they highlighted some positive aspects.

The Port of Antwerp-Bruges, with its strong international presence and emphasis on sustainable growth, saw an increase in its market share in the container segment when compared to the Hamburg-Le Havre range, which includes North Sea ports in the Netherlands, Germany, Belgium, and France. In the first half of the year, the market share for the Port of Antwerp-Bruges within this range increased by one percentage point, reaching 30.6%.

Nevertheless, CEO Jacques Vandermeiren acknowledged the pressures on the competitiveness of the European industry. He attributed this challenge to high energy costs, raw material expenses, labor costs, and low global demand. Given the current economic conditions, he expressed a cautious outlook and acknowledged that "we will have to accept that 2023 will not be a stellar year." Photo by Arminius, Wikimedia commons.