Growth in container traffic in Rotterdam port is likely to slow in 2008 but robust business from Asia should largely offset any overall effects of a slowing U.S. economy, its chief executive said on Tuesday.
CEO Hans Smits said that while Europe's biggest port had seen lower growth than expected in container volumes in the first few months of the year, this was balanced by increased traffic in other areas such as petroleum oil products and minerals.
"We were used to double digit growth in containers, I think it will not be double digit growth this year," Smits said in an interview with Reuters. Container throughput rose by about 10 percent to around 105 million tonnes in 2007.
Smits said he saw a slowdown in the United States having a limited effect on Europe's economy, that could have some impact on the port's overall growth in the second half of the year.
"But we grow mainly because of the goods coming in from the Far East, so the impact of the United States slowing down will be small," he said.
He said he expected major growth in the transport of coal and iron ore this year as well as increases in the traffic of mineral oil products to balance out the slowing of container growth.
"In the first couple of months we have seen growth in mineral oil products, which is related to current economic growth in the Far East and high oil prices."
Total throughput volumes in the port were seen up 3.5 to 4 percent in 2008, from roughly 407 million tonnes in 2007.
Rotterdam is a major transit point for oil, coal, grains and other commodities. The port plans an extension programme aimed at providing a long-term solution to expanding international trade.
Smits said work is scheduled to start on the new project this autumn, and the first terminals in the new port and industrial complex should become operational in 2013.
CEO Hans Smits said that while Europe's biggest port had seen lower growth than expected in container volumes in the first few months of the year, this was balanced by increased traffic in other areas such as petroleum oil products and minerals.
"We were used to double digit growth in containers, I think it will not be double digit growth this year," Smits said in an interview with Reuters. Container throughput rose by about 10 percent to around 105 million tonnes in 2007.
Smits said he saw a slowdown in the United States having a limited effect on Europe's economy, that could have some impact on the port's overall growth in the second half of the year.
"But we grow mainly because of the goods coming in from the Far East, so the impact of the United States slowing down will be small," he said.
He said he expected major growth in the transport of coal and iron ore this year as well as increases in the traffic of mineral oil products to balance out the slowing of container growth.
"In the first couple of months we have seen growth in mineral oil products, which is related to current economic growth in the Far East and high oil prices."
Total throughput volumes in the port were seen up 3.5 to 4 percent in 2008, from roughly 407 million tonnes in 2007.
Rotterdam is a major transit point for oil, coal, grains and other commodities. The port plans an extension programme aimed at providing a long-term solution to expanding international trade.
Smits said work is scheduled to start on the new project this autumn, and the first terminals in the new port and industrial complex should become operational in 2013.