Largest Port In Germany Reports Good 2022 Result Despite Worldwide Vessel Congestion

Hamburg, the largest port in Germany, reportedly achieved a “good result” in 2022 despite global supply chain issues brought about by vessel congestions, operator Hamburger Hafen und Logistik AG (HHLA) informed.

While earnings before interests and taxes (EBIT) dropped a little on a year-on-year basis to 220.4 million euros, sales went up by 7.7% to 1.6 billion euros, per Xinhua news agency.

Vessel Congestion
Image for representation purpose only

The HHLA fulfills its remit reliably to facilitate secure supply within Europe and Germany, Angela Titzrath, the CEO, said on Thursday in a statement, stressing the fact that 2023 would be yet another year with significant “uncertainty”.

On peaking at about 14% at the end of last year, the congestion of global container shipping has since relatively eased.

However, global trade in terms of goods “seems anemic,” per the Kiel Institute for the World Economy (IfW Kiel), as stated on Tuesday.

With about 2.46 million 20-foot equivalent units (TEUs), yet again, China was the Port of Hamburg’s top trading partner in 2022 “by a wide margin,” per the marketing team of the port (HHM).

The most essential product groups that are imported from China and managed at the Port of Hamburg included metals, machinery, and chemicals. Wood items, food products, and vehicles, on the other hand, were among those that were shipped to China frequently, per HHM.

The port’s 2022 result comes at a time when it’s not able to tackle the arrival/departure of huge vessels needing pilotage owing to strikes in the public sector of Germany.

The “massive restrictions” in place Wednesday onward wouldn’t be lifted until Friday morning with the end of the strike actions, Hamburg Port Authority informed Xinhua on Thursday.

Reference: China Org CN, Daiji World

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