Dry Bulk Carriers Face Increasing Congestion At Rotterdam Due To Russia-Ukraine Conflict
Congestion for Dry Bulk Carriers at Rotterdam has soared due to the Russia-Ukraine conflict.
Since the outbreak of war in late February, the average waiting time for a Bulker at Europe’s busiest port has often been above the high end of its three year range. But over the seven week period from May 9th to June 29th, it escalated from 48 hours to 186 hours, as shown in Figure 1 below. It has since eased to 113 hours but remains very high for the time of year.
Dry bulk imports into Northwest Europe have been steadily recovering since the depths of the Covid-19 pandemic in mid 2020. But growth has accelerated since the Russian invasion and volumes are now higher than pre pandemic levels.
As shown in Figure 2 below, much of the increase is driven by flows from within Europe. In the April to June period, trade flows from within the region increased by 6.9 million tons, or 21% on the same period last year. Intra-Northwest Europe trade was 8.2 million tons higher, more than offsetting a 2.9 million ton drop in imports from the Baltic Sea region, where there are several key Russian ports.
The second biggest driver is trade from Africa, which rose by 4.6 million tons or 72% (01 April to 30 June ’22 vs 01 April to 30 June ’21), and particularly South Africa, which contributed 3.0 million tons of the increase. European power utilities have been eager buyers of South African coal, despite high prices, in the wake of a ban on Russian cargoes. This has lifted coal trade from South Africa to Northwest Europe to levels not seen since 2014. Rotterdam in The Netherlands is the region’s main coal import terminal, but several other countries, including France, Germany, Italy, and Poland, received cargoes, having imported no coal at all from South Africa in the year ago period.
This knock-on effect from the conflict and wider global energy crisis will be a key near term indicator for the Dry Bulk and European power sectors.
VesselsValue data as of 12th July 2022.
Press Release
Shipping News You Would Like:
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Do you have info to share with us ? Suggest a correction
Latest Shipping News You Would Like:
U.S Navy And The Philippines Begin Joint Naval Drills In South China Sea Amidst Tensions With China
Captain Of Cargo Ship Carrying €157million Worth Of Cocaine Appears In Wexford Court
Indian Navy’s First Training Squadron Warships Arrive At Port Klang, Malaysia
Environmental Groups Demand Rules To Protect The North Atlantic Right Whale From Ship Collisions
U.S Navy And Lockheed Martin Fire Submarine-Launched Ballistic Missile With A 4000 NM Range
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.