Business News

Koper port reports higher Q3 revenue

Koper, 09 October (STA) - Luka Koper, the operator of Slovenia's sole maritime port, saw its net sales revenue grow at an annual rate of 3% in the first three quarters of the year to EUR 170 million, mainly due to a growth in liquid cargo throughput.

Overall cargo throughput increased minimally, by 78,000 to 17.74 million tonnes, show figures posted by the company on the website of the Ljubljana Stock Exchange.

Container throughput was up by 2% to 7.25 million tonnes and liquid cargo transshipment rose by 19% to 3.22 million tonnes, whereas dry bulk cargo throughput declined by 5% to 5.54 million tonnes.

Transshipment of general cargo fell by 14% to 942,000 tonnes and of cars by 9% to 792,000 tonnes, show preliminary unaudited data.

The company said the decline in car throughput slowed down compared to the first half of the year. Car exports to Turkey are still 40% below last year's figure whereas imports of Turkey-manufactured cars increased.

Car exports to South East Asia increased as well over the past months, which contributed to reducing the gap between the 2019 and 2018 throughput.

A drop in sales in the European car industry also affected the throughput of other types of cargo, as a drop in imports of sheet metal, steel products and raw material in the steel industry in Europe reflected in a decline in the general cargo and dry bulk segment.

The slowdown in car production also affected the container segment to an extent as car-manufacturing units situated in Central European countries are supplied via Koper.

In the container segment, the port also faces cheaper ocean freight rates across Northern European ports. However, the company does not expect major fluctuations.

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