North Sea Port Bounces Back in March After Slow Start to 2026

Key Drivers of the Decline

Several factors contributed to the downturn:

• Challenging market conditions in Europe, particularly in the chemical and manufacturing industries.
• Stockpiling at the end of 2025, which reduced the need for certain raw materials and goods in early 2026.
• Scheduled maintenance shutdowns by major companies, temporarily lowering demand for supplies.

No Immediate Impact from Persian Gulf Conflict

The ongoing conflict in the Persian Gulf region has not yet affected North Sea Port’s cargo volumes. While disruptions to supply chains are anticipated in the near future, the port has not observed any significant changes as of March 2026. The port authority underscored the importance of ports and industries in maintaining Europe’s strategic autonomy.

Q1 2026 Cargo Trends

In total, North Sea Port handled 15 million tons of seaborne cargo in the first quarter of 2026, with the decline concentrated in the first two months. March, however, saw a return to typical throughput levels.

• Breakbulk cargo increased by 2.6%, and roro volumes rose by 1.3% compared to 2024.
• Container traffic grew by 5% in TEUs but fell by 5.1% in tonnage.

Bulk Cargo Challenges

• Dry bulk: A sharp 11.1% drop, primarily due to reduced iron ore imports following a surge in late 2025. This decline is seen as a result of inventory adjustments rather than a long-term trend. Fertilizer volumes, however, showed growth.
• Liquid bulk: A steep 17.2% decline, driven by a struggling chemical sector and maintenance-related slowdowns.

CEO Cas König noted the unusual nature of the decline:

“Typically, declines in one cargo type are offset by increases in another, balancing the overall impact. This time, however, bulk cargo volumes in January and February didn’t see enough positive offsets. Thankfully, this seems to be a temporary issue.”

Inland Shipping Also Affected

Inland shipping mirrored the trends in seaborne cargo, with a 2.4% drop in Q1 2026, totaling 14.9 million tons. Like seaborne volumes, January and February were weak months, but March saw a strong rebound, bringing activity back to normal levels.