Port of Gothenburg on Track for Record Container Volumes Amid Mixed Economic Signals

In 2023, the Port of Gothenburg achieved its highest-ever container throughput, and as the first half of 2024 draws to a close, the port is poised to set another all-time high for container volumes. Container handling increased by 5%, reaching 467,000 TEUs (twenty-foot equivalent units) in the first half of the year. The trend of rising import volumes, which began in the first quarter, continues to contribute to this growth.

According to Claes Sundmark, Vice President of Sales at the Port of Gothenburg, the market signals indicating increased purchasing power and demand have proven accurate. Export volumes are also on the rise, bolstered by the Swedish forest industry’s growing reliance on the port for its export activities. The second quarter of 2024 marked the 15th consecutive quarter of growth in total container volumes, extending a steady increase that began in the third quarter of 2020.

Rail Transport Expansion

The number of containers transported to and from the port by rail surged by 6% in the first half of the year. This growth is attributed to increasing volumes at existing destinations across the country, along with the addition of several new destinations to the port’s rail network. The expansion of rail transport has played a crucial role in supporting the overall growth in container volumes.

Challenges in RoRo and Vehicle Handling

While container volumes are thriving, other segments at the Port of Gothenburg are facing challenges due to an unstable economic climate. The port’s intra-European RoRo (roll-on/roll-off) traffic, which connects key transport hubs in Northern and Central Europe, saw a 4% decline, with 270,000 RoRo units handled during the first half of the year. This slowdown is attributed to ongoing uncertainty in the European economy. However, Claes Sundmark noted that Gothenburg’s numbers remain relatively strong compared to similar traffic at other ports, where the decline is more significant.

The handling of new vehicles at the port also decreased by 3%, with 132,000 cars handled during the first half of the year. This decline is primarily due to a reduction in car imports to Sweden, which can be linked to a 6% drop in new car registrations in the country during this period, according to Mobility Sweden.

Growth in Energy Products and Dry Bulk

Despite challenges in some segments, the handling of energy products at the Port of Gothenburg increased by 13%, reaching 11 million tons compared to the same period in 2023. The previous year saw relatively low volumes due to planned maintenance stops and investments aimed at boosting biofuel production capacity.

The handling of conventional dry bulk ships also saw significant growth, with 270,000 tons processed in the first half of the year, a 31% increase. This rise is driven by new export flows of forest products, granulate, and building materials for major infrastructure projects.

Passenger and Cruise Ship Traffic

In the ferry segment, the number of passengers increased by 3%, reaching 652,000 in the first half of the year. However, the port received fewer cruise ship calls, with 26 ships arriving compared to 33 during the same period last year. This decline is attributed to planned work around one of the port’s cruise terminals in Arendal, which was temporarily closed.