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Rotterdam port posts earnings of US$218 million for 2010

THE port of Rotterdam in the Netherlands earned EUR154 million (US$218.2 million) in 2010, an increase of EUR10 million compared to the previous year, excluding the one-off proceeds of a sale in 2009.

Rotterdam port posts earnings of US$218 million for 2010
27 March 2011 - 19:17

THE port of Rotterdam in the Netherlands earned EUR154 million (US$218.2 million) in 2010, an increase of EUR10 million compared to the previous year, excluding the one-off proceeds of a sale in 2009.

Port authorities' attributed the stronger result to an 11 per cent increase in the volume of goods handled by the port last year.

Operating income was up by 6.2 per cent compared to 2009 to EUR551 million. Within this total, harbour dues, one of the two main sources of income for the port authority, rose by EUR14 million to EUR288 million, after offering a seven per cent 'crisis' discount that was deducted from the tariffs throughout the year. Revenue from leasing land was up by EUR17 million to EUR249 million.

Normal operating costs remained virtually unchanged to those in 2009.

CEO Hans Smits said in a statement, "We are extremely satisfied with these figures. They mean that we, as port authority, are able to implement our extensive investment programme. That is very important for the future of the main port."

The port authority invested a record EUR445 million last year, including EUR324 million on the port expansion project of Maasvlakte 2 and EUR121 million on the existing port area. This year the port aims to invest a total of EUR575 million, of which EUR400 million will be spent on Maasvlakte 2, which involves the construction of a new port and supporting infrastructure on reclaimed land adjoining the existing port area.

The port authority said it is optimistic about developments in 2011 and anticipates throughput growth will be in the range of two to three per cent year on year. "The net results for 2011 are expected to grow, due to increasing revenue and unchanged expenses," the statement added.

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