Port of Koper container throughput declines 8 per cent

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Port of Koper container throughput declines 8 per cent in Q1

The Luka Koper Group’s performance in the first quarter of this year was mostly influenced by poor economic activity in the eurozone and slow global development.

Slower-than-anticipated economic growth and an unsettled situation in the Middle East are projected to result in somewhat decreased marine throughput.

Container throughput was 256,240 TEU, down 8 per cent from last year’s first quarter, while vehicle throughput was 189,855 units, down 18 per cent.

Both commodity groupings were impacted by the hard conditions stated in the introduction, and in the case of automobiles, by lower sales in certain markets.

READ: Port of Koper reaches monthly record of nearly 100,000 TEU

The dry bulk commodity group’s throughput was 18 per cent lower than the same time in 2023, owing mostly to reduced coal throughput, but fertilisers, wheat, and phosphates (bulk) were greater than the previous year.

The general cargo category witnessed a 10 per cent growth, driven by increased throughput of steel items and equipment, as well as higher timber exports. Liquid cargoes also increased by 3 per cent.

The turmoil in the Middle East, as well as the disruption of Red Sea shipping routes, impacted the company and all players in the logistics chain in general.

The crisis has forced several shipowners to temporarily reroute their ships to the route around Africa, resulting in severe delays in port arrivals and cargo processing.

READ: Port of Koper expands fleet with more electric Konecranes RTGs

Nevenka Kržan, President of the Management Board, summarising the performance in the first three months of 2024, said: “Despite the difficult situation, the company has managed to adapt to the new circumstances, maintaining all three direct container services from the Far East and taking advantage of new business opportunities in the meantime.

“At the same time, we have received assurances from key shipowners that Koper will continue to be an important entry point to Central Europe.”

She added that the company expected some negative effects on its business when developing the 2024 business plan, but that despite this, the majority of the targeted financial indicators were exceeded in the first three months of the year.

In June 2022, the Port of Koper completed the extension of the southern part of its Pier I, upping the capacity of its marine terminal by 15 per cent.

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