The port of Rotterdam, Europes largest seaport, announced a 15% leap in freight volumes on a year-on-year basis in the third quarter. This increase comes as international trade continued to recover from its COVID-19 induced slump.
Port of Rotterdam Chief Executive Allard Castelein had the following to say regarding the surge in trade: “These figures show that the economy is continuing its upward path. Factories, businesses, and logistics are operating flat out again to meet increased demand.”
Data has shown that the port’s activity increased by 9% during the first nine months of the year from that of the previous year. Currently, with manufacturing activities returning to pre-pandemic levels, there is a rising demand for bulk goods such as iron ore. This is typically used in the production of crude oil, steel, and other oil-based products.
With transports costs rising at the same time, container arrivals at the port are far outpacing the pace of shipping.
The transport of coal has increased significantly, doubling in the first nine months of the year. This comes as Europe looks to meet energy needs that remain unfulfilled by wind power and gas.
