- Hamburg saw slight growth despite uncertainties.
- Trade with China, the USA, India, and Sri Lanka grew.
- Fossil fuel cargo declined, and agricultural exports rose.
The year 2024 was characterised by many geopolitical and economic issues. Global trade was disrupted by the conflict in Ukraine and Middle Eastern wars, leading to volatility in world markets. In Germany, economic production fell by 0.2 per cent, while industrial output fell by 4.5 per cent compared to the previous year, reports Port of Hamburg.
Stable Container Throughput in a Difficult World Environment
In contrast to these challenges, the Port of Hamburg proved to be resilient, indicating an increase in container throughput. The favourable trend in container traffic to and from the USA persisted, while that with China recovered.
At 7.8 million TEU, container throughput at the Port of Hamburg grew by 0.9 per cent compared to 2023. Loaded containers, which are crucial for the value chain, accounted for approximately 87 per cent of this volume, with a 1.2 per cent increase to 6.8 million TEU.
Market Resilience and Efficient Hinterland Transport
“The annual result highlights the Port of Hamburg’s resilience in a challenging market environment. Most notably, the high proportion of loaded container throughput indicates that shippers regard the port as a reliable partner and a strong link in the global logistics chain. Additionally, the port’s efficient hinterland transport had a successful year” said Axel Mattern, Member of the Executive Board at Port of Hamburg Marketing (HHM).
Overall, the port handled 78.7 million tonnes of general cargo, with 77.5 million tonnes transported in containers. Conventional general cargo throughput rose to 1.3 million tonnes, marking an 8.7 per cent increase.
Major Markets in the Black
Trade with China, one of Hamburg’s most important markets, increased by 0.7 per cent to 2.2 million TEU, maintaining China as Hamburg’s leading trading partner. The USA recorded a new high with 685,000 TEU, up 5.0 per cent. India registered a growth of 2.1 per cent to 195,000 TEU, and Sri Lanka, an important transhipment centre for the Indian subcontinent, registered a 12.4 per cent increase in throughput to 140,000 TEU.
Increase in Vessel Calls
The total number of ship calls with container capacity at Hamburg’s Port increased by 0.3 per cent year on year compared to 2023. Transit times and route diversions caused by security conditions in the Red Sea cut the number of Megamax vessels calling at Hamburg. Nevertheless, per-call throughput volumes at the port rose substantially, with Megamax-class vessels to and from the port carrying more than 10,000 TEU on average, a 20 per cent increase.
Decarbonisation and Its Effect on Bulk Throughput
The shift towards renewable energy took its toll on bulk cargo handling. The reduction in the use of fossil fuels led to a 2.1 per cent fall in coal imports to 3.8 million tonnes and a 21.7 per cent fall in the throughput of mineral oil products to 5.7 million tonnes. Partly responsible for this fall was the exceptionally high throughput in 2023, as well as softer economic performance and soft temperatures lowering demand in 2024.
Total bulk cargo handling was 33.1 million tonnes, an 8.6 per cent drop compared to 2023. But substantial growth was recorded in imports of oilseed crops (+5.6 per cent to 3.2 million tonnes) and exports of animal feed (+9.4 per cent to 1.4 million tonnes). Overall, the port handled a total of 111.8 million tonnes of goods, a decrease of 2.1 per cent from 2023.
Rail Dominates Hinterland Transport
Hinterland transport of the Port of Hamburg registered a volume of 5.2 million TEU, with transhipment reaching a volume of 2.6 million TEU. In terms of tonnes, hinterland transport weighed 83.1 million tonnes and transhipment weighed 28.7 million tonnes.
Rail transport remained the leader, handling 46.2 million tonnes (+1.3 per cent year-on-year) and 2.6 million TEU (+2.5 per cent). Rail’s modal share of container transport was more than 50 per cent at 50.2 per cent. In terms of the tonnage-based modal split, rail transport had a share of 55.6 per cent, up 2.1 percentage points from 2023.
“The result underlines our position as the largest rail port in Europe and consolidates our market leadership,” stressed HHM CEO Axel Mattern.
Outlook for 2025
The world economic situation will likely stay unstable due to persistent global crises. The German government predicted only 0.3 per cent growth in the country’s economy, which might affect throughput numbers at the port. Meanwhile, the Port of Hamburg has released several new liner services for early 2025, indicating a positive trend.
February also saw the introduction of a North and South America service by CMA CGM and ONE, as well as an India service managed by the Gemini Alliance. The new links are likely to spur further development and cement Hamburg’s status as a key node in international trade.
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Source: Port Of Hamburg
