LHG braves economic headwinds
Lübecker Hafen-Gesellschaft (LHG) faced a challenging economic environment in 2023, with a 4.8% decrease in total cargo handled compared with 2022. The decline from 22.4 million to 21.3 million t was mainly due to reduced production from a major supplier, impacting roro traffic with a 5% drop in load units to 890,000.
Forest product volumes fell by 13.8%, although new vehicle shipments and truck traffic saw increases of 2.4% and 1.3%, respectively. Passenger numbers grew by 2.5% to 500,000.
Despite market challenges, shipping lines maintained full liner services, a move appreciated by LHG. Sebastian Jürgens, LHG's CEO, aims to continue supporting shipowners in market engagement.
This includes further dock expansions, with their largest project, number 5, completed, and market development initiatives like the second German-Latvian Port Day in Riga on 11 July, followed by the German-Finnish Port Day in Lübeck on 27 November. (pb)