European terminals perform for Eurogate
Strong performance: The Contship Italia terminal was Eurogate's strongest in 2016
The Eurogate Group says that the strong performance of its European terminals enabled it to turn around an increased profit in 2016, despite a difficult market environment.
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%).
Michael Blach, Chairman of the Eurogate Group Management Board, said that going forward, the main East-West trade lanes, will be dominated by the three major alliances 2M, OCEAN Alliance and THE Alliance, a great advantage to the operator going forward.
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.
“Eurogate has time and again proved its mettle in an intensive competitive environment. To ensure that this remains so, we are aiming to continually improve our performance. We want to innovate and are focusing closely on the driving forces of technology and digitalisation. This also includes the introduction of automation processes (at Wilhelmshaven),” Mr Blach said.
It hasn’t all been good news though as shown in the financials. In Bremerhaven and Hamburg, container handling volumes stagnated.
The operator also wasn’t helped by the speculation surrounding the delay on the extension of the Outer Weser and the deepening of the River Elbe, which created negative signals internationally regarding Germany as a competitive maritime location going forward.
Despite this, Eurogate is continuing to pursue its expansive network strategy and will do into 2017.
Mr Blach said: “With its network of 12 locations, the group is on the whole broadly and soundly positioned to respond to possible political repercussions on global trade in the maritime competitive environment.”
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