Eurogate performs despite infrastructure woes
The Eurogate Group says that the strong performance of its European terminals enabled it to turn around an increased profit in 2016, despite the news of Germanys delayed marine infrastructure projects.
Net profit for the year was up by 3.3% to €75.9m with throughput up at its Contship Italia terminal (5,012,218 teu +4.6%) and also at its Bremerhaven/Wilhelmshaven terminals (5,968,918 teu +0.4%).
The results were helped along by the news that the main East-West trade lanes will be dominated by the three major alliances 2M, OCEAN Alliance and THE Alliance in future, a great advantage to the operator.
Indeed, the newly established Ocean Alliance has just added Eurogate’s Wilhelmshaven terminal to its network, meaning the group can now count two major alliances representing eight shipping lines as clients.
It wasn’t all good news though as shown in the financials. In Bremerhaven and Hamburg, container handling volumes stagnated.
The operator hasn’t been helped by the speculation surrounding the delay on the extension of the Outer Weser and the deepening of the River Elbe, which have created negative signals internationally regarding Germany as a competitive maritime location going forward.
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