Challenges lie ahead with quota, tariffs and geopolitical shifts. Uncertainty about volumes makes it difficult to predict and forecast. Although we have seen a status quo in conventional cargo this year, with main driver a recovery in steel imports, we do see export volumes to, among others, the US and Mexico dropping further, in part driven by trade restrictions. Market volatility and geopolitical shifts may continue to affect the flow of goods and production of steel commodities, especially due to the US import tariff impact. This became apparent in 2025 and is expected to continue to influence volumes.
On the other side, the downward spiral of the European automotive industry, hugely affected by the challenges of the energy transition and competition of the Chinese market, will see an impact on steel volumes on the import side. Greening steel production in Europe is a challenge, as due to the higher cost they cannot remain competitive. Some producers are therefore reassessing production locations and volumes.
The EU has unveiled further stricter rules to curb foreign steel dumping, with a potential negative effect on import volumes in 2026. Regarding project cargo, sustainability projects in the market may or may not incur further delays, impacting volumes.
We hope to see a better balance in volumes and less uncertainty. Our port shows great resilience to changes and trade imbalances due to its diversification. More clarity on global trade restrictions in the breakbulk and project cargo segment could offer more stability to traders and logistics firms in the segment.