Hamburg port container volume growth to slow on Russia sanctions

HAMBURG9 (Reuters) – The number of shipping containers handled at Hamburg's port, a hub for eastern European trade, will grow more slowly this year than last as economic sanctions against Russia weigh, the Port of Hamburg Marketing Association said.

European governments imposed sanctions on Moscow after Russia annexed Ukraine's Crimea region last year, causing a drop in trade with the country.

Container volumes shipped to and from Russia via Hamburg's port fell by 8 percent to 662,000 TEUs (twenty-foot equivalent unit containers) last year, the port association said on Monday.

Overall container volumes in Hamburg, where logistics firms such as HHLA, Eurogate and Buss operate terminals, rose 5.1 percent.

That growth rate is set to slow to around 3 percent this year, it said.