The Port of Gothenburg presents a mixed half yearly result

Sweden, August 22, 2014 (STAT):-The Port of Gothenburg reported mixed results in its performance for the first half of the current year. The Port accounts for around 30 percent of the imports to and exports from Sweden and this showed up in the 3 percent increase in freight volumes to Europe with Germany, UK and Belgiu, accounting for the bulk of the shipping in that order. In total, 89,000 new cars passed through the Port of Gothenburg during the first six months of the year, up 17 per cent on the corresponding period last year.

Magnus Kårestedt, CEO, Port of Gothenburg, said: “European freight has risen steadily for the past year or so thanks to the recovery in the economy. We have recently seen signs of a slow-down in growth in Europe although this has yet to be replicated in our volumes.”

The Port of Gothenburg handles almost 60 per cent of all containers shipped to or from Sweden. On the passenger front, there was five percent increase during the first half. A total of 774,000 people chose to take the sea route to or from Gothenburg for business or pleasure. It has also been a record-breaking year for cruise ship visits with 73 calls (38 during the first half of the year) and 120,000 cruise passengers.

However during this period, container traffic fell by nine per cent, with exports falling more than imports. In total, 424,000 TEU were shipped via the Port of Gothenburg during the period. Similarly, during the first half of the year, there was an 11 per cent fall in crude oil imports and the shipping of refined products such as diesel and petrol. The underlying factors were low margins for refined products and uncertainty about global oil prices.

“This could be an indication that Swedish trade with rapidly expanding economies in other parts of the world is not growing at the same rate as previously,” Magnus Kårestedt continued.