The Port of Barcelona in Spain has recorded the best results in its history during 2017 to become Europe’s fastest-growing port.
A report by the port has found that the total cargo traffic surpassed 61 million tonnes for the first time last year, delivering a year-on-year increase of 26%.
This result contributed significantly to container traffic, one of the most strategic segments of activity for the port.
Nearly 3 million TEU was moved in 2017, representing an increase of 32.3%.
A significant factor causing this increase was a 137% rise in transhipment containers, which are unloaded from one ship to be reloaded onto another for final shipment.
China continues to be the Port of Barcelona's prime trading partner.
Learn more about the different ways ports are evolving by reading 'Update: The New Era of Mega-Ports' by Olaf Merk, Administrator Ports and Shipping, the International Transport Forum (ITF) at the Organisation for Economic Cooperation and Development (OECD)
Of the containers leaving and entering the port, China’s imports stand at 44.3% and exports total 11.6%.
The port also made large gains in ro-ro, dry bulk and wet bulk.
As for its financial standing, the Port of Barcelona’s net turnover was US$ 208 million (€167 million) in 2017, up 7% year on year, mainly because of increased revenue from the upturn in activity.
It also recorded a profit of $62 million (€50 million), up by 50%, and generated a cash flow of $123 million (€99 million), an increase of 15% on the previous year.
In 2017, the port also managed to significantly cut its long-term debt contracted with the European Investment Bank (EIB) by 8%, meaning it now stands at $350 million (€ 281.1 million).