External conditions impact Port of Antwerp-Bruges’ quarterly results

in News
TagsEngineering, engineering and equipment, Equipment, Port of Antwerp

Apr 23

Weather, strikes and geopolitics weigh on volumes, with recovery in March and continued investments in the future

In the first quarter of 2026, Port of Antwerp‑Bruges handled 65.5 million tons of maritime cargo, a decrease of 3.2% compared to the same period last year. After a weak start in January and February, throughput recovered in March. General cargo (-4.4%) – in particular containers and conventional general cargo – was under pressure, while bulk cargo remained stable (-0.6%) and RoRo traffic increased. The results reflect a complex combination of factors, including adverse weather conditions, social actions, geopolitical tensions and a weakened European industrial base.

Weaker start for container traffic

In the first quarter of 2026, container throughput decreased by 5.5% in tons and 2.6% in TEU compared to the same period last year. This should be seen against the backdrop of a relatively strong start to 2025, when the restructuring of container alliances generated high inbound volumes, as well as the weakened export position of Western Europe.

In addition, the start of the year was marked by extreme weather conditions. A snowstorm and prolonged cold spell in January, followed by severe storms in the Bay of Biscay until mid‑February, disrupted shipping and terminal operations. A four‑day strike against pension reform also had a significant impact. The interruption of the nautical chain led to the diversion of several vessels to other ports and to planned call-sizes that could only be partially handled due to a lack of spare terminal capacity.

Overall, an estimated 100,000 TEU (approximately 1.1 million ton) of container throughput was lost. From mid‑February onwards, and particularly in March, volumes recovered, once again highlighting the need for additional container handling capacity.

Quarterly figures Q1 2026

Mixed performance in other segments

Conventional general cargo was also under pressure, mainly due to lower steel exports to key markets such as the United States, Mexico and Canada, as well as the entry into force of the Carbon Border Adjustment Mechanism (CBAM) on 1 January 2026.

By contrast, the RoRo segment recorded growth, driven by higher volumes of new vehicles and high & heavy equipment. Shortsea RoRo traffic remains affected by the EU Emissions Trading System (ETS), particularly on longer hauls, although the shift towards road transport appears to be slowing as diesel prices rise.

Dry bulk declined by 4.9%, due among other things to lower fertiliser volumes and the disappearance of coal traffic. Liquid bulk recorded slight growth of 0.2%, supported by a strong performance in March. However, developments within the segment varied widely: volumes increased for gasoline, naphtha, fuel oil and LNG, while diesel, kerosene and LPG declined.

These trends are influenced by changing market conditions, shifts in feedstock, anticipation of the European import ban on Russian LNG, as well as geopolitical tensions and market dynamics such as backwardation. Chemicals throughput remains under pressure due to the weak position of the European chemical industry.

First impact of the Middle East conflict

The direct impact of the conflict in the Middle East remained limited in the first quarter due to longer sailing times via the Cape of Good Hope. The decline in imports from and exports to and from the Persian Gulf, of respectively 12% and 49%, during this period can largely be attributed to weather‑related disruptions.

From the end of March onwards, however, the first effects became visible. On 23 March, the last LNG tanker so far from Qatar arrived in Zeebrugge, and container lines adjusted their sailing schedules towards alternative ports in the Middle East and the eastern Mediterranean.

At present, the most significant impact of the conflict and the blockade of the Strait of Hormuz is indirect, through rising energy and fuel prices. These increased bunker and transport costs and further weaken the competitiveness of European industry. At the same time, low European gas storage levels – which will need to be replenished ahead of next winter – and disruptions in supply chains for certain products are creating additional

Investments and projects reinforce future‑oriented strategy

Despite geopolitical tensions and economic pressure, Port of Antwerp‑Bruges continues to invest in its future. The arrival of Chinese manufacturer Windrose, which is developing its first European flagship site for electric trucks in Antwerp, confirms the port’s international appeal for innovative and sustainable investments.

At the same time, operational capacity is being reinforced through the modernisation of the Europa Terminal, where newly delivered crane infrastructure will play a key role in handling the world’s largest container vessels. With the launch of market assessment for the ECA project, Port of Antwerp‑Bruges is also taking the next step towards additional container handling capacity, with the ambition of supporting future growth in a sustainable and resilient manner.

At a strategic level as well, Port of Antwerp‑Bruges continues to take the lead. During the European Industry Summit in Antwerp, the port endorsed the Antwerp Call to Alden Biesen, a clear appeal for a stronger European industrial policy, focusing on competitive energy prices, fair trade conditions, protection against carbon leakage and recognition of the chemical sector as a cornerstone of European industry.

Rob Smeets, CEO ad interim Port of Antwerp-Bruges:

“This quarter’s results show how strongly external factors are currently influencing port activity and the wider economy. We are seeing the impact of geopolitical tensions, disruptions in supply chains and the difficult position of European industry. At the same time, this underlines the importance of a robust and agile port infrastructure. By continuing to invest in capacity, sustainability and efficiency, we are strengthening our role as a reliable link in international trade – even in an increasingly complex environment.”

Johan Klaps, Chairman of the Board of Directors of Port of Antwerp Bruges and Antwerp Alderman for the Port:

“The figures for this quarter show that the pressure on the European economy is not a cyclical phenomenon, but points to structural bottlenecks in the competitiveness of the European economy. This calls for clear choices at the European level, but also for ports that think ahead. Port of Antwerp-Bruges is taking on that responsibility by actively investing in robust infrastructure and future-oriented capacity, as well as in a sustainable energy policy.”

Dirk De fauw, Vice Chairman of the Board of Directors of Port of Antwerp Bruges and Mayor of Bruges:

“The developments of this quarter underline the crucial importance of the port for the economic strength of our region and of Europe as a whole. From Zeebrugge, we play a key role in energy supply, logistics and industrial activities. Investments in infrastructure, innovation and sustainable projects not only generate additional traffic, but also jobs and economic growth. In this way, we continue to build a strong, future‑proof port that contributes to broad‑based prosperity.”