Rotterdam CEO: Cargo throughput to stabilize

Rotterdam CEO: Cargo throughput to stabilize    The ports of Rotterdam and Antwerp reported cargo volumes were down sharply in the first half of the year, but the chief of Rotterdam predicted volumes would stabilize in the second half.
   Rotterdam said it handled 185 million tons of goods through the end of June, 13.4 percent down on the same period of 2008. Exports fell 4.6 percent to 54 million tons, and imports dropped 16.6 percent to 131 million tons.
   Bulk cargo throughput was off 12.4 percent to 128 million tons, while general cargo volume fell 15.5 percent to 57 million tons.
   Container traffic fell 15 percent to 4.6 million TEUs.
   “We believe that the bottom of the cycle has been reached,' said Hans Smits, Port of Rotterdam Authority chief executive officer. 'In the second half of the year, I expect throughput to stabilize, bringing the shrinkage for the year as a whole to approximately minus 12 percent. In 2010, Rotterdam will then be able to benefit from the predicted, modest increase in world trade and contribute towards the recovery of growth in the Dutch economy. Despite the slump, our market share is actually increasing quite clearly. Investment appears to be paying off. That is why we are now benefiting from the strong movements in trade in crude oil and oil products.”
   Port of Antwerp said it handled about 77 million tons of freight in the first half of the year, a 20 percent drop compared with the same 2008 period.
   “The worldwide economic crisis has naturally had a negative impact on the figures for the first two quarters of this year. However, in percentage terms the figures are somewhat distorted by the comparison with the exceptionally strong performance in the first half of 2008,' which in turn was partially due to the industrial dispute in Le Havre during the April-July period, the port said in a statement.
   Antwerp's container volume through June was 3.6 million TEUs, down about 18.5 percent.