Major European ports report losses due to Russia sanctions ...News

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Major European ports report losses due to Russia sanctions
Cargo turnover in the 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, 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. A report released by the German port of Hamburg last week stated that cargo turnover was down 10.2% year-on-year to 28.1 million tons in the first quarter

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