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Global recession reduces traffic

Global recession reduces traffic
The port of Hamburg said the amount of goods entering and leaving fell about 24 percent to 54.2 million tons in the first six months.

The port of Hamburg said the amount of goods entering and leaving fell about 24 percent to 54.2 million tons in the first six months.

The port of Hamburg, Germany"s largest, said the amount of goods entering and leaving fell about 24 percent to 54.2 million tons in the first six months as the global recession reduced traffic on Asian routes. ?We didn"t think it would hit us as hard as it did,? Claudia Roller, the port"s marketing chief, said at a press conference in Hamburg today. The rate of decline has slowed in recent weeks, signaling the worst may be over, she said.

More than half the containers entering and leaving Hamburg are going to or coming from Asia, where China is the most important trading partner. Container trade with China dropped 27 percent to 1.15 million so-called 20-foot equivalent units, a measure for container traffic.

Chinese exports fell 23 percent in July from a year earlier and grew a seasonally adjusted 5.2 percent from the previous month, according to data released by China"s customs bureau on Aug. 11. German exports increased the most in almost three years in June, rising 7 percent from May. The level was 22 percent below the previous June, according to German government statistics released Aug. 7.

Hamburger Hafen & Logistik AG, a publicly traded harbor logistics company, said yesterday the volume it handled at its three terminals in Hamburg fell by about a third in the first half. Traffic on feeder routes to Russia, Poland and Baltic states is down by about half, the company said in a statement.

Exports amounting to 24.2 million tons left Hamburg in the first six months, a decline of 20 percent. Imports fell more than exports, by 27 percent to 30 million tons, the port said.

www.TurkishMaritime.com.tr

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