Rotterdam Reports "Extremely Significant" 50% Increase in Fuel Oil Throughput

The Port of Rotterdam has reported an an "extremely significant growth in fuel oil" throughput for the first half of 2015, which has risen by 11 million tonnes, or 50 percent, compared to the period last year. 

The Port noted that for the period 60 percent of its fuel oil arrived in small tanker vessels from Russia, 60 percent was transported in large tanker vessels to the Far East (Singapore), and re-exports to Far East doubled.

Overall the Port saw 6.8 percent growth in total throughput and its first half net result grow by €3.1 million ($3.4 million) to €122.5 million ($134.4 million).

During the first six months, the throughput of liquid bulk increased by 15.4 percent.

Oil products rose by 29.7 percent, crude oil by 8.3 percent, containers by 3.7 percent in twenty-foot equivalent units (TEU), and roll-on/roll-off-transport by 9.6 percent.

The number of sea-going vessel traffic increased for the first time since 2010, by 3 percent.

However, the throughput of agricultural bulk, coal, ores, and other dry bulk products "fell across the board" by 4.9 percent, according to the port.

A combination of trends is credited for the increase in throughput, particularly a 30 percent increase of mineral oil products.

The gradual recovery of the European economy was cited as the most important cause of the container throughput increase, followed by trans-shipment traffic increases.

Port of Rotterdam notes that the trend of increased scale continues, with "nearly 50 orders for vessels exceeding 18,000 TEU" in the books.

The port expects the container market to remain unsettled in coming years, "mainly because the capacity of the ships is growing faster than the demand": anticipated consolidation and revised sailing schedules will result in the fluctuation of market shares.

Total investments for 2015 are expected to be $175.7 million, compared to $207.9 million for 2014.

Looking ahead, the port said that "the prospects for the development of the port are reasonably favourable", and "the Port of Rotterdam Authority will continue to concentrate on mature markets" as well as growth and new markets.

Earlier this year, the port announced that its 2014 bunker sales volume rose for the first time since 2011, with sales of diesel and marine gasoil driving the growth.