Challenging economic circumstances in Europe weighed down on its key ports, including the Port of Hamburg. The port's recently published financial results of Q1 2023 revealed negative growth triggered by several factors, especially the loss of business with Russia and the unstable economic situation in China.

Axel Mattern, CEO of Port of Hamburg Marketing, said in a press release, “The tough general economic situation is reflected in current throughput figures for all North Range ports.”

“Freight volumes to and from Russia are now missing from the general view. In addition, the at times unstable economic situation in China on account of the pandemic has continued into this year. Neither of these factors were without repercussions on the Port of Hamburg,” he added.

More mega-sized containerships visit Hamburg

While container handling dropped nearly 17% in the first quarter, the Port of Hamburg assured that “the trend for larger containerships to call the Port of Hamburg was maintained.” In fact, the port witnessed a 17.5% increase in the calls by Megamax containerships.

“Many newbuilds ordered by shipowners are now entering service. The first call in Hamburg by the ‘OOCL Spain’, with a capacity 24,188 TEU,” said Mattern. OOCL Spain is the carriers first 24,000+ boxship capable of carrying up to 24,188 TEU. It has a total length of 399.99 meters and a width of 61.3 meters.

Fewer boxes were moved by rail in Q1

The drop in container throughput was reflected in the level of boxes moved by rails. Nearly 10% less containers were moved by rail during the first quarter. In addition, the intermodal system in Germany’s northern region faced difficult operating conditions, says the port.

“Some shipping companies, for instance, cancelled ship calls, while several strikes in March affected port operation in the short term,” says Matten. Nevertheless, he believes a recovery is coming for the port some time in the course of this year.