In the Netherlands, the Port of Rotterdam Authority has reported that net income fell 9 per cent to €77m during the first half of the year, down from €85m in the same period of 2008.
According to the Authority, the drop was a result of lower revenues from seaport dues, down €9m due to a decline in cargo handling during the economic crisis. However, revenues from contracts increased thanks to land allocations.
Despite lower results, however, the Authority has confirmed that it is investing €370m in the Port by the end of the year, with half going into existing infrastructure and half earmarked for Maasvlakte 2.
'Some hefty investments also need to be made for the medium and long term,' said the Port of Rotterdam Authority in a statement. 'Between now and 2020, the Port Authority expects to invest some €4bn.
'The Port Authority's financial position is solid enough to cushion the downward trend in results in the first six months and to allow the continuation of this investment programme,' the statement continued. 'The Port Authority can easily meet the criteria set by its external financiers.'
For the second half of the year, the Port Authority said that it expects a similar financial result to the first six months.
