THE Port of Rotterdam Authority announced a 10 per cent year-on-year net profit increase to EUR186 million (US$243 million) in 2011 driven by higher harbour dues paid by ships that visit the port and from rental revenue.

Harbour dues rose six per cent to EUR305 million, partly due to the one per cent increase in throughput, but mostly because the seven per cent 2010 "crisis discount" was cut to a three per cent "recovery reduction".

The income from the letting out of sites rose by seven per cent to EUR267 million because of price indexation, the extension of a number of contracts at prices more in line with market rates and the allocation of new sites in Maasvlakte 2.

In total the operating income increased by almost seven per cent to EUR588 million, EUR37 million more than in 2010. The operating expenses increased slightly. The income from participating interests amounted to EUR9 million in 2011, mainly due to the favourable development of the participating interest in the Sohar Port in Oman.

The port authority invested a record EUR494 million in 2011, of which EUR379 million was invested in Maasvlakte 2 and EUR116 million in the existing port area. Investment in 2012 will amount to about EUR500 million.

Said port financial director Paul Smits: "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."

The Port of Rotterdam Authority is moderately positive about the developments in 2012 and anticipates an increase in throughput up to one per cent. Net income is expected to continue developing positively in 2012, due to income increasing slightly while expenses remain constant.