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Drewry: Russian crisis casts shadow on Port of Hamburg

Even though the Port of Hamburg presented a solid result for 2014, the crisis in Russia will continue to be a storm cloud over the the port's activities, according to Drewry.

Photo: Hamborg Havn

The Port of Hamburg was successful in weathering the significant drops in freight to Russia in 2014, which have only gotten worse in 2015. And for this reason, the Russian crisis is far from finished playing a role in the development of the port in coming years, assesses Drewry, which also points to other challenges.

In 2014, the Port of Hamburg achieved a total revenue of USD 1.3 billion and operational results of USD 74 million compared to USD 165.6 million in the previous year. The result was in line with expectations, Drewry notes, while the growth in volumes was impacted by the Russian crisis, due to the fact that Russia is the second-largest customer of the port.

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