Eurogate profit increases 10.2pc to US$82 million as revenue rises 5.3pc

EUROGATE has posted a year-on-year 10.2 per cent increase in 2014 operating profit to EUR76.5 million (US$82.07 million), drawn on revenues of EUR566 million, which increased 5.3 per cent.

Container handling volumes were the highest in the Bremen company's history, rising 4.2 per cent to 14.8 million TEU.

But growth was mixed over various Eurogate locations with German terminals handling 8.1 million TEU, retaining the biggest market share. Bremerhaven, Eurogate's biggest German terminal, stagnated at the previous year's level with 5.8 million TEU.

The era of ultra-large containerships set in earlier than at other seaports back in 2006 when the 15,000-TEU Emma Maersk docked at the port, said the Eurogate statement, reported St Petersburg PortNews.

"Bremerhaven's location on the open sea provides good nautical conditions for the handling of mega container carriers. Thanks to these, in 2011 this site was the first to once again reach the peak handling volumes of 2008." it said.

On March 6, the terminal docked the 19,224-TEU MSC Oscar,the world's biggest containership. And in November, the Bremerhaven terminal won an award from Newark's Journal of Commerce for outstanding productivity.

Eurogate Container Terminal Hamburg grew 16.7 per cent in 2014, handling volumes of 2.3 million TEU, winning awards from Hong Kong's Cargonews Asia and the Journal of Commerce. In January it docked the 19,100-TEU CSCL Globe, then the world's biggest box ship.

In February, the first ship operating on the Asia north Europe service route in the 2M Alliance service docked at Eurogate Wilhelmshaven. The 2M Alliance has included Germany's only deepwater port in its schedule with two liner services.

The Wilhelmshaven's location is seeing increasing demand, especially in light of the trend in ship sizes, signs that it will find a growing role in the market from this year on.

"Given its nautical advantages and congestion-free hinterland connections, Wilhelmshaven is an excellent alternative or supplementary port to the established seaport locations," said the Eurogate release.

Eurogate's Italian terminals grew 0.3 per cent with 16,000-TEUers calling at the southern European terminals.

In January, the 16,600-TEU MSC London, the biggest to call at Medcenter Container Terminal Gioia Tauro on the toe of the Italian boot. One week later she called at La Spezia, 80 kilometres from Genoa.

LSCT La Spezia Container Terminal responded to the rapid rise in the number of large ships with an extensive investment programme. Last year, LSCT acquired the neighbouring Speter Terminal, thus laying the foundation for expanding the terminal.

To facilitate handling of large containerships with 23 container rows on deck, two new container gantries were delivered on March 24.

Eurogate Tanger, the group's most dynamic terminal, grew volumes 33.2 per cent to 1.4 million TEU. Located on the Strait of Gibraltar, it is in direct competition with the "expensive Spanish ports on the European continent", said the press release.

"But at the same time it serves as a gateway to the up-and-coming Moroccan market. The biggest customer is the French shipping line CMA CGM, whose 16,000-TEU class regularly docks here. Negotiations are currently under way about a further involvement of Eurogate Tanger in the TangerMed II port extension area and increased terminal capacities at the site," said the statement.

Despite Russian tensions, the Ust-Luga Container Terminal, 100 kilometres west of St Petersburg enjoyed a throughput increase of 68.1 per cent to 103,521 TEU in 2014.