Port of Rotterdam’s crude oil throughput declined in 2023

The Port of Rotterdam’s crude oil throughput dropped 1.4% on the year to 102.5 million mt in 2023.

PHOTO: A tanker docked at the Port of Rotterdam. Getty Images

The port authority has attributed the decline in crude oil throughput to increased maintenance work at the refineries, which impacted supply. 

The port’s liquid bulk throughput in 2023 was 3.4% lower than the previous year. The throughput of mineral oil products declined by 6.5% in the year due to a decline in the total throughput of fuel oil and naphtha.

The amount of fuel oil transported via Rotterdam has lessened due to the EU sanctions on Russian oil products.

Rotterdam’s total throughput last year amounted to 438.8 million mt, a 6.1% fall from 2022 levels (467.4 million mt). Dry bulk throughput in 2023 witnessed a decline of 11.8% year-on-year. The port authority has attributed this decline to lower demand for raw materials in Europe.

Total cargo throughput was down by 6.1% in 2023 due to the ongoing geopolitical conflict in the Middle East, low economic growth in the year, and untameable inflation, the port authority said.

“2023 saw ongoing geopolitical unrest, low economic growth due to higher interest rates and faltering global trade, all of which had a logical effect on throughput in the port of Rotterdam,” said the port authority’s chief executive officer Boudewijn Siemons.

Meanwhile, the port's total LNG throughput in 2023 increased by 3.7% year-on-year, to 11.9 million mt as Europe continued to import large amounts of LNG to replace Russian gas. The port also witnessed more LNG bunkering in 2023.

Rotterdam’s LNG bunker sales increased by a massive 52% last year.

By Aparupa Mazumder 

Please get in touch with comments or additional info to news@engine.online