Port of Hamburg: Germany’s Gate to the World starts to crumble due to Sanctions against Russia

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The port of Hamburg, Germany’s biggest trading port, records several million of euros of losses in sales; partially due to the sanctions against the Russian Federation.

After years of flourishing trade, Europe’s second biggest container-port is in economic decline. China’s decreasing output and the crisis in Russia are the main factors for the staggering losses of Germany’s most important trading-port. On Monday, the association “Hafen Hamburg Marketing” released a report, which documents that the turnover of containers until the second quarter has decreased by seven percent, or 4.5 million containers less.

The port-association links the weakening performance to the current economic and political situation in two of its most important trading-partners; Russia and China. The traffic of containers with the Russian Federation has declined by one-third of its original value. The exchange of good with China declined by eleven percent.

Due to the low results of the first half-year figures, Hamburg’s marketing-organization forecasts a weak year, with a maximum of nine million containers which will arrive at the port by the end of 2015. Thus, a decline of seven percent to the previous year. In February, at the beginning of the year, it was estimated that nearly ten million containers will arrive at the port. Logistic-companies such as HHLA, which conclude one quarter of the business at the port, but also Eurogate and Buss feel the depression.

The transshipment of HHLA collapsed to 3.4 million containers, a staggering decline of ten percent.



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