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Cheap oil, European recovery boost volumes at Rotterdam port
AMSTERDAM, July 17 (Reuters) - A European economic recovery
and low oil prices helped Rotterdam, Europe's largest port, to
increase throughput sharply in the first half of this year, with
vessel numbers up substantially for the first time since 2010.
Overall volumes gained 6.8 percent from the same period in
2014, the port said in a statement on Friday. Container
throughput was up 3.7 percent from a year earlier.
Throughput of oil products rose 29.7 percent and of crude
oil by 8.3 percent, as low oil prices encouraged a build-up of
stock.
Changing energy trends also affected volumes. Germany's
growing reliance on sustainable energy sources caused coal
throughput to plummet, while liquefied natural gas volumes more
than doubled due to demand from Europe's industrial clusters.
Dry bulk volumes fell 4.9 percent, partly because good
harvests in Europe reduced import demand for farm products. Also
behind the dip were low demand for steel and the overhaul of a
blast furnace at steelmaker ThyssenKrupp <TKAG.DE>.
The port, owned by the city of Rotterdam and the Dutch
state, plans investments of 160 million euros ($174 million)
this year, down from 189.3 million euros in 2014, and has
identified container shipping and liquefied natural gas as
growth markets.
"The prospects for the development of the port are
reasonably favourable," the statement said. "There is stiff
competition with other ports, and the business world has to do
its utmost to achieve results."
($1 = 0.9190 euros)
(Reporting by Thomas Escritt; Editing by Dale Hudson)
((Thomas.Escritt@thomsonreuters.com; +31 20 5045006; Reuters
Messaging: thomas.escritt.thomsonreuters@reuters.net))
Keywords: ROTTERDAM RESULTS/