The North Sea Port has reported stable cargo volumes for the first six months of 2024, handling a total of 33.4 million tonnes of seaborne cargo, mirroring the performance of the same period in 2023.

Despite ongoing economic challenges, the port has witnessed growth in several key areas, including general cargo. This segment saw a 4.1 per cent increase, driven primarily by rising cellulose volumes. Liquid bulk also performed well, with a 5 per cent increase due to growth in chemical products and fertilisers.

The port’s strategic location has been instrumental in its ability to navigate global economic uncertainties. While overall dry bulk volumes declined by 2 per cent, the port experienced growth in certain categories such as fertilisers and raw minerals, offsetting losses in other areas like oilseeds and iron ore.

A notable development has been the continued decline in trade with Russia, which has fallen by a further 17 per cent due to EU sanctions. As a result, the UK has overtaken Russia to become the port’s top trading partner.

The port also saw a 2.6 per cent increase in cargo transhipment via inland navigation, with growth in liquid bulk offsetting a static dry bulk volume.

Looking ahead, the port anticipates limited growth for Western European countries in 2024, forecasting a modest 2 per cent increase overall.