Major EU ports post losses due to Russia sanctions
Cargo turnover in the bloc’s three largest hubs dropped significantly in the first quarter of the year, data shows
Europe’s largest cargo ports of Rotterdam, Hamburg, and Antwerp have reported a significant decrease in container volumes in the year to date, citing the sanctions-induced termination of Russian cargo transit as among the main reasons for the decline. Prior to 2022, about 70% of imports to Russia passed through the three ports, according to media reports citing shipping data.
The German port of Hamburg announced last week that cargo turnover in the first quarter of 2023 was down 10.2% year-on-year…
