Rotterdam port sees lower 2009 cargo volumes
AMSTERDAM, Dec 30 (Reuters) - Cargo volumes at Europe's biggest port, Rotterdam, are expected to shrink by between 5 and 8 percent next year, the port said on Tuesday even as it reported record volumes for 2008.
Cargo volumes of Rotterdam port -- a major transit point for oil, coal, grains and other commodities -- rose by 2.7 percent to 420 million tonnes for 2008, but business slowed drastically from September.
"Throughput will decrease sharply in the beginning of 2009," the port's chief executive Hans Smits said in a statement. "It would be good if we can hang on to 400 million tonnes."
In October, when the port had begun to feel the symptoms of a faltering world economy, it had expected growth to slow down, but had stopped short of forecasting volumes to contract.
Incoming volumes rose by 3.9 percent in 2008, while outgoing volumes fell by 0.5 percent, the port said.
Ores and scrap volumes are expected to drop by at least 20 percent next year as steelmaker ArcelorMittal (ISPA.AS) has shut four blast furnaces that were good for 6.5 million tonnes of ore shipped through Rotterdam, with other customers cutting another 3 million tonnes, the port said.
Rotterdam port kicked off an extension programme in September which is set to increase its size by about 20 percent. The first ship is expected to dock in the new harbour in 2013. (Reporting by Niclas Mika, editing by Anthony Barker)
