Solid 2015 Results for the Port of Esbjerg

The Port of Esbjerg has delivered solid economic results for 2015 despite a challenging year for the ports and shipping industry.

PTI has previously reported that the state of the shipping sector may be a reflection of the dire conditions of the global market.

The port’s net profit for 2015 was US$11 million, which was slightly below the high figures in previous years.

The turnover for 2015 was $34 million against $38million in 2014.

Flemming N. Enevoldsen, Chairman of the Board at the Port of Esbjerg, said: “The net profit for 2015 is in line with our expectations. It confirms that the Port of Esbjerg is a robust business and that the port’s focus on three business areas – wind, oil/gas and RoRo – is the right one.

“At the same time, we have the capital base required to run a business like the Port of Esbjerg, where ongoing investments are necessary to match customer demands, demands which reflect strong international competition.”

The level of activity within RoRo-transport at the Port of Esbjerg was stable, with a total cargo turnover of 1.6 million tonnes in 2015, which is a small rise compared to 2014.

Nearly 60,000 new cars were imported through the Port of Esbjerg in 2015; this is 50% more than in 2014, setting a new record for the port.

Another record was set for the port in 2015 as the number of ship calls exceeded 6,400, a rise of approximately 10% compared to 2014.

The total cargo turnover in 2015 was 4.2 million tonnes against 4.5 million tonnes in 2014.

Ole Ingrisch, Port Director at Port of Esbjerg, said: “We must continue to develop the port’s infrastructure and provide flexible, well-functioning and cost-effective solutions, which contribute to our customers’ competitiveness during both good and less good times.

“And we must dare to prioritise our investments and services in close dialogue with our customers.”

The Port of Esbjerg anticipates the result for 2016 to end at the same level as in 2015, although the low oil price has made it difficult for both the Port of Esbjerg and the businesses at the port.

PTI previously reported that falling oil prices were having an impact on the widening gap between supply and demand.

Ingrisch concluded: “We are of course very aware of the difficult market, which the businesses in the oil and gas industry are operating in at the moment. This adds to the insecurity for many of our customers and we also feel this at the port.”