31 January 2023 (Lloyd's List) - VALENCIA, Spain’s largest container port and the fourth-largest in Europe, saw box volumes decline 10% last year as slowing demand and weaker economic conditions hit throughput. “Valencia port, as a thermometer of economic activity and world trade, reflects in its 2022 data the international crisis that is affecting business and the global exchange of goods, which is facing a complicated situation marked by the conflict in Ukraine, increased neo-protectionism, high inflation and the rise in fuel and raw material prices,” the port authority said in a statement. Despite the fall in total traffic, which was down 6.9%, and container traffic down 9.85% during the year, Valencia port maintained its share of 40% of Spain’s import/export traffic. There was some good news for the port, with the number of cars handled increasing by more than one fifth, and the resumption of cruise and passenger services following the disruptions of the pandemic leading to growth of 376% and 47% respectively. The port said that the fall in volumes to 5.1m teu was in line with a 10% fall in global container traffic in 2022, with the main loss coming from transhipment, which was down 16.8% from 2021, as carriers diverted to other Mediterranean ports, particularly Tanger Med, which saw total throughput rise last year. Containerised exports were down 7.6%, but there was a slight uptick in imports of 1.6%. Outside of the container sector, Valencia port saw an improvement in liquid bulk, which rose by 50% on the back of liquefied natural gas volumes at the port of Sagunto terminal. “The number of ships dedicated to the transport of products such as energy products was 322, 10.7% more than the previous year,” the port said. But dry bulk volumes were also down. “In general, traffic has decreased in all sectors,” the port said. “Iron and steel fell by 9.9%, construction materials by 12.6% and chemical products by 10%. The agri-food sector, in 2022, kept the figures of 2021, with a decrease of 0.5%.”