Jonathan Saul

LONDON (Reuters] – Port of Antwerp adapts to Russia’s loss of shipping traffic and the merger of Port of Zeebrugge with its neighbour is expected to increase overall volume in the coming years. This was the statement of its chief executive on Thursday.

Due to Russia’s invasion and imposition of Western sanctions, leading international shipping lines including container companies have severed business relations with Russia. Although food and medical cargoes are allowed to Russia, Russia’s overall exports have suffered due to the limited options for freight.

Russia is an important trading partner of the Port of Antwerp. 5 Million tonnes of the 240,000,000 tonnes of international shipping volume that the Port handles annually was exported to Russia, according to Jacques Vandermeiren (Port’s CEO).

He stated to Reuters, “That volume (volume), will not return in the coming months or even years.” “We are certain to lose between 4-5 and 5 million tonnes in total this year,” he said.

The European Union had placed limitations on Russian steel imports to Antwerp. These restrictions had since been lifted and replaced by quantities from South Korea, Turkey, and India.

Russian Naphtha imports to Antwerp have remained unaffected.

He said, “I can see this most likely being reduced, but not entirely banned, and then, like steel, we will witness a shift of Russian naphtha from other places.”

Antwerp, Bruges and Zeebrugge completed their merger last week. This created Europe’s largest terminal for exports.

Vandermeiren said that the new group will grow to be a platform for port operations with combined volumes approaching 300 million tonnes each year.

He said, “It won’t happen overnight.”

Vandermeiren claimed that the recent China lockdowns resulting from a rise in COVID-19 are putting strain on supply chain. This is after a year in turmoil for container shipping, which transports consumer products.

He stated that 2022 would be another difficult year, full of traffic congestion and higher freight prices. There will also be long wait times for trucks and trains in the hinterland. It’s just the old tune all over again.