Container throughput at Germany’s Port of Hamburg is expected to fall by 7% due to sluggish economic growth in its major trade partners China and Russia.
The Port of Hamburg Marketing Association has cut its forecast for container volumes at the port by 7% to 9m teu this year. A previous forecast projected that volumes would grow 3% to 10m teu in 2015, Reuters reports.
Containers imported from China via Hamburg numbered 3m teu in 2014, with another 660,000 teu inbound from Russia.
In contrast, container shipments to and from China decreased by 11% during the first half of 2015, due to China’s shrinking factory output, slower economic growth and slumping stock markets.
Container trade with Russia fell by over 33%, having been affected by Western sanctions on Russia and Russia’s ban on food imports.
Hamburg’s container volumes as a whole fell 7% to 4.5m teu during the first six months of 2015, compared with the first half of last year.