Port of Antwerp-Bruges’ breakbulk throughput continues recovery

Published on 22-07-2024 at 12:29

Photo Port of Antwerp-Bruges

The Port of Antwerp-Bruges, a major European trade hub, is witnessing positive signs in its breakbulk cargo segment despite an overall decline in throughput for the first half of 2024 compared to the same period last year.

According to port authority data, breakbulk volumes rose in the second quarter, reversing a downward trend observed in the final quarter of 2023. This upward trend comes amidst a backdrop of global economic uncertainty and geopolitical tensions.

The overall breakbulk throughput in the first half of 2024 fell by 6.2 per cent year-on-year, landing at 5 million tonnes. The drop was primarily due to a 12.6 per cent decrease in imports. However, a 4.5 per cent rise in exports partially offset the decline. Notably, breakbulk throughput in the second quarter of 2024 improved compared to the first quarter of 2024.

The report highlights a growth in iron and steel exports (7.4 per cent) that helped stabilize overall throughput in this category (+0.6 per cent) for the first half of 2024. This trend contrasts with the first quarter 2024, which saw a rise in iron and steel imports and a decline in exports.

Total cargo throughput edges up

The total throughput of Port of Antwerp-Bruges was 143.2 million tonnes in the first six months of this year, an increase of 3 per cent compared to the same period last year. This upward trend, which started in the first quarter driven by increased demand for container transport, is now extending to other product categories as well. This is despite ongoing geopolitical tensions and an uncertain macroeconomic climate.

In the first quarter, container throughput recovered following a global slowdown due to economic uncertainty and inflation. This growth continued in the second quarter. In the meantime, sailing around the Cape of Good Hope has become the ‘new normal’. This ensured a rise in total container throughput of 6.8 per cent in tonnes and 4.1 per cent in TEUs (6,665,000 TEUs), compared to the first half of 2023.