Ashdod Port sees drop in demand in 9M 2023

Ashdod Port reports 2023 financial results

The Ashdod Port Company has published its performance results for the third quarter of 2023 and the first nine months of 2023.

Published data encompass all port activities, including containers, automobiles, general cargo, bulk, and passenger ships.

The creation of private ports, which have become increasingly major competitors in the market, has reportedly increased the port’s competition during the first nine months of 2023.

Simultaneously, the scope of operation for some goods was reduced, while Ashdod noted that its storage customer service increased.

READ: Ashdod Port invests in five startups

In the container sector, the number of containers loaded and unloaded at the port during the first nine months of 2023 was around 526,000 TEU, compared to approximately 672,000 TEU during the same time in 2022.

According to Ashdod, the drop is the result of the impact of increased competition and a drop in demand.

Dudi Amsalem, Minister of Regional Cooperation, who is responsible for the Companies Authority, said: “I would like to congratulate the managers and employees of Ashdod Port for their amazing work and wonderful results, which speak for themselves.

“Ashdod Port has a critical and significant role, especially in wartime, to strengthen the Israeli economy, and they are clearly doing an outstanding job, as seen in the company’s high rating.

“We salute the managers and employees for these achievements! I hope to see the port continue to grow and flourish in quieter times as well.”

READ: Maersk North America, Ashdod Port Company to collaborate on supply chain logistics

Shaul Schneider, Chairman of the Board of Ashdod Port: “We are summarising the results of our activity in the first nine months, prior to Operation Iron Swords, to establish our market share in a super-competitive era.

“We entered this challenging period for the Israeli economy in a strong position. Maalot even confirmed our high rating recently. Since the war broke out, we have made all the necessary adjustments and are paying close attention to the war’s impact on our company.”

In August 2023, the Port of Thessaloniki (ThPA S.A.) announced a cooperation with Ashdod Port Company Ltd.

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