Ports of Antwerp and Rotterdam look to India to restore growth
Both the ports of Antwerp-Bruges and Rotterdam are seeking to expand their trade ties with India to offset recent declines and geopolitical challenges. The ports aim to capitalize on potential trade agreements and specific industry opportunities like hydrogen and raw materials.
The Port of Antwerp-Bruges has faced a challenging period in the first nine months of the year, reporting a 0.8 percent decline in cargo throughput to 200.9 million tons due to geopolitical tensions, energy costs, and logistics disruptions. To reverse this trend, the port is focusing on expansion in India, hoping to leverage a potential free trade agreement with the European Union to secure its status as a primary gateway between the Indian market and Europe.
Similarly, the Port of Rotterdam is identifying India as a key partner for growth, specifically targeting trade in fresh produce, hydrogen, and raw materials. Rotterdam has already appointed a local representative to facilitate these trade lanes. Beyond India, the Port of Rotterdam is diversifying its global trade network to mitigate risks, increasingly prioritizing partnerships with nations like Canada and Brazil as global trade patterns continue to evolve and shift away from traditional reliance on established routes.
Based on reporting by nu. Translated and condensed by LocalHeadlines.
