Container volumes down 11.5% at Port of Valencia

Container volumes down 11.5% at Port of Valencia
The effects of the COVID-19 panemic have hit Valencia's figures

The Port of Valencia endured a tough July, with container throughput dropping by 11.5% as the coronavirus pandemic weighed on maritime trade.

According to the port authority, the results are a reflection of the virus’s impact on the Spanish hinterland, as the port handles 50% of the import/export traffic or Spanish countries.

Its hinterland stretches to a geographical area where 50% of Spanish GDP is generated and where 60% of Spanish foreign trade is located.

Nevertheless, he Spanish hub handled 437,396 containers last month, which still represents the third busiest July in the port’s history.

Export containers declined by 10%, imports slumped 18% while transit containers fell by 9% and empties were down 13%.

Over the first seven months of the year, the Mediterranean port handled 2,948,630 containers representing a decrease of 9%, respectively, compared to the same period in 2019.

In terms of cargo segments, the non-metallic mineral sector bucked the negative trend, with growth of 18% while the energy and agri-food sectors have maintained similar figures to the previous year. With regards to agri-food, canned goods exports were up 7%.

The rest of the sectors presented negative results, including an 18% fall for vehicles and transport while construction materials dropped 11%.

Despite a decline of 6% with trade with the US, it still remains the main trading partner of the Port of Valencia, with nearly 291,000 teu handled in the first seven months of 2020. Meanwhile, trade with China dropped 11% while trade with Turkey dropped 19%.

There were a few bright spots with trade with Canada jumping 21%, Italy up 15% and the UK 55%.

Managed containers from the Far East fell by 12%, Mediterranean and Black Sea (-6%), West Africa (-10%) and South America Atlantic (-21%).