The Port of Koper (Luka Koper) Group handled 548,096 TEU in the first half of 2024, a slight decline of just 1% compared to the same period in 2023. The company said that the early months of the year were impacted by delays in maritime transport on routes to the Far East and between Mediterranean ports due to the situation in the Red Sea. However, by April, the situation had improved considerably, leading to a 5% increase in turnover by the end of the second quarter.

The Slovenian port said that its maritime throughput for the first half of 2024 totalled 11.3 million tonnes of goods and net sales revenues amounted to € 136.3 million. Earnings before interest and taxes (EBIT) stood at €37.3 million, exceeding the group’s target by € 7.7 million or 26%, despite a slightly lower (€ 1.6 million) net sales revenue. The company said that this was mainly due to lower operating costs on account of lower energy and material costs and lower maintenance services costs.  Net profit reached € 32.8 million, which was 24% above plan and a 3% increase year-on-year,  driven by a 180% increase in operating profit from financing activities of € 1.9 million.

“In particular, container stuffing and stripping services and other additional services increased, while less revenue was recorded from warehousing fees due to faster turnaround of goods. The share of operating expenses was also slightly higher compared to the same period in 2023 due to higher labour costs (recruitment and adjustment of salaries to inflation),” the port said.

The port experienced a 9% decrease in car throughput, handling 409,460 vehicles, partly due to continued delays in ship arrivals and a gradual cooling of the automotive market.

The port’s general cargo terminal saw a 9% increase in activity, driven by higher volumes of steel products, while the liquid cargo terminal recorded a 4% rise. In the dry bulk sector, although overall throughput was down due to a decline in coal shipments, there was an uptick in fertiliser, wheat, and phosphate handling during the period.

“The escalation of the conflict in the Middle East at the end of 2023 has brought a new threat to the steady flow of goods from the Far East, with shipowners diverting the majority of their fleet to a route around Africa that would take just over 14 days longer. This was also reflected in slightly lower overall throughput in the first three months of 2024, but the situation has gradually returned to normal since April, with most shipowners reinforcing their services with additional ships, thus stabilising ship arrivals and throughput,” said Nevenka Kržan, President of the Management Board of Luka Koper. “The Port of Koper also adapted quickly to the new situation and in the second quarter we again achieved a positive growth trend in container throughput (TEU), almost fully compensating for the decline in turnover in the first months.”

In early 2024, the Port of Koper launched a significant investment cycle as outlined in its Strategic Business Plan for 2024-2028. By April, the port completed solar power installations with a total capacity of 4.2 MW and began constructing Berth 12 at Pier 2, alongside ongoing upgrades at the container terminal and bunkering points. In the first half of the year, investments totalled € 20.7 million. Additionally, the port commenced projects for new car storage areas, an automated steel warehouse, and the expansion of Pier 1.

The Port of Koper (Luka Koper) Group handled 548,096 TEU in the first half of 2024, a slight decline of just 1% compared to the same period in 2023. The company said that the early months of the year were impacted by delays in maritime transport on routes to the Far East and between Mediterranean ports due to the situation in the Red Sea. However, by April, the situation had improved considerably, leading to a 5% increase in turnover by the end of the second quarter.

The Slovenian port said that its maritime throughput for the first half of 2024 totalled 11.3 million tonnes of goods and net sales revenues amounted to € 136.3 million. Earnings before interest and taxes (EBIT) stood at €37.3 million, exceeding the group’s target by € 7.7 million or 26%, despite a slightly lower (€ 1.6 million) net sales revenue. The company said that this was mainly due to lower operating costs on account of lower energy and material costs and lower maintenance services costs.  Net profit reached € 32.8 million, which was 24% above plan and a 3% increase year-on-year,  driven by a 180% increase in operating profit from financing activities of € 1.9 million.

“In particular, container stuffing and stripping services and other additional services increased, while less revenue was recorded from warehousing fees due to faster turnaround of goods. The share of operating expenses was also slightly higher compared to the same period in 2023 due to higher labour costs (recruitment and adjustment of salaries to inflation),” the port said.

The port experienced a 9% decrease in car throughput, handling 409,460 vehicles, partly due to continued delays in ship arrivals and a gradual cooling of the automotive market.

The port’s general cargo terminal saw a 9% increase in activity, driven by higher volumes of steel products, while the liquid cargo terminal recorded a 4% rise. In the dry bulk sector, although overall throughput was down due to a decline in coal shipments, there was an uptick in fertiliser, wheat, and phosphate handling during the period.

“The escalation of the conflict in the Middle East at the end of 2023 has brought a new threat to the steady flow of goods from the Far East, with shipowners diverting the majority of their fleet to a route around Africa that would take just over 14 days longer. This was also reflected in slightly lower overall throughput in the first three months of 2024, but the situation has gradually returned to normal since April, with most shipowners reinforcing their services with additional ships, thus stabilising ship arrivals and throughput,” said Nevenka Kržan, President of the Management Board of Luka Koper. “The Port of Koper also adapted quickly to the new situation and in the second quarter we again achieved a positive growth trend in container throughput (TEU), almost fully compensating for the decline in turnover in the first months.”

In early 2024, the Port of Koper launched a significant investment cycle as outlined in its Strategic Business Plan for 2024-2028. By April, the port completed solar power installations with a total capacity of 4.2 MW and began constructing Berth 12 at Pier 2, alongside ongoing upgrades at the container terminal and bunkering points. In the first half of the year, investments totalled € 20.7 million. Additionally, the port commenced projects for new car storage areas, an automated steel warehouse, and the expansion of Pier 1.