Bruce Barnard, Special Correspondent | Apr 04, 2012 8:47AM EDT
The Port of Rotterdam Authority booked net income of $246 million in 2011, a 10 percent increase on the previous year driven by increased harbor dues and rental revenue at Europe’s largest port.
Total operating income grew 7 percent to $782 million, the bulk made up of harbor dues, up 6 percent at $406 million on higher traffic and rental income from port sites, which rose 7 percent to $355 million.
“These figures mean that we can continue with our planned investments in the port. That is very important for the development of the main port in the long term,” said Port Authority financial director Paul Smits.
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The authority invested a record $657 million in 2011, of which $504 million was spent on the Maasvlakte 2, a giant container and distribution hub due to open in 2013. Investment in 2012 will total about $665 million.
The port said it is “moderately positive” about 2012, with traffic projected to increase by a maximum 1 percent. Net income is expected to increase “slightly” on unchanged expenses.
Rotterdam’s container traffic grew 6 percent in 2011 to a record 11.9 million 20-foot equivalent units, and total throughput increased 1 percent to an all-time high of 434.6 million metric tons.
Contact Bruce Barnard at brucebarnard47@hotmail.com.
