by Lloyd's List

15 November 2024 (Lloyd's List) - TRADE at the Port of Hamburg has decreased by 3% in the first nine months of 2024, standing at 84m tonnes.

The port authority blamed a weak German economy on the decrease in trade, as well as the conflicts in the Red Sea and Ukraine.

Container throughput at the port was fairly stable for the first three quarters of 2024, down 0.4% on last year at 5.8m teu.

China is still the port’s strongest trade partner, with a throughput of 1.6m teu between January and September 2024. But US trade has increased 7.6% so far this year to 520,000 teu. Trade with Poland, Mexico and Malaysia all increased by double digits in terms of percentage points.

Elsewhere, the drawn-out purchase of 49% of Hamburger Hafen und Logistik by the Mediterranean Shipping Co looks to finally be near completion, after passing regulatory hurdles in Ukraine.

The European Commission granted approval in early October, but the deal still hinged on similar approval being granted in Ukraine.

MSC will pay the agreed price of €16.75 ($17.64) per share in the next seven days.