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Contship avoids Eurogate’s free falling
20.04.2009
Contship avoids Eurogate’s free falling
Drastic traffic drop in the ports of Germany during the first quarter 2009, only Italy resists

Eurogate Group lost traffic of 9.2% during the first quarter 2009; only terminals belonging to Contship Italia could resist to the general loss thanks to the development at CICT Cagliari International Container Terminal, due to the acquisition of a new customer (the consortium between the Grand Alliance and the shipping line UASC), and to the start up in September 2008 of Eurogate Tanger Container Terminal, which by the end of the year handled 64,178 TEUs and succeeded in acquiring as a new customer the Japanese shipping line MOL.
The network’s total volume was 3.05 million teu but the German facilities faced a 17.7% drop overall, with the container terminal in Bremerhaven getting down by 22% and the one in Hamburg by 9.4%.
On the contrary in 2008 Eurogate’s net profits rose by 3.5% to 116.5 million euro over 715 million revenues (+8.4%), the best operating result in the company’s 10-year history, a positive trend attributable to the wide increase in container handling volumes to 14.2 million teus (record ever).
However the German group is still confident for 2009 propsects, considering that some help will come from the two major measures  undertaken: the Bremerhaven terminal will introduce short-time work to cut labor costs without sacking staff whereas the investments will be halved once again (they’ve been already cut down from the 470 million planned in 2008 to just 238.4).
“No one is currently in a position to offer a reliable forecast. However we are looking confidently to the future because our company is well-positioned to weather the current financial and economic storm. For 2009 we are anticipating continued profitable business development” chairman Emanuel Schiffer commented.
Eurogate also said they are resisting carriers’ wish to cut their terminal handling charges and invited their customers to jointly discuss opportunities to make the transport logistics chain more performing.

(fonte Ship2Shore - www.ship2shore.it)
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