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西边不亮东边亮！特朗普关税阴云下，德国最大港口汉堡港积极“向东看”
Di Yi Cai Jing·2025-05-26 06:48

Core Insights - Hamburg Port experienced a significant increase in container throughput with China, reaching 597,000 TEUs in Q1, marking an 11.3% year-on-year growth [3] - The port's overall maritime freight volume grew by 3.1% year-on-year, totaling 28.3 million tons, with container throughput reaching 2 million TEUs, a 6.3% increase compared to the same period last year [1][3] - Hamburg Port is the only major European port to show an increase in maritime freight volume in Q1, contributing to a 19.8% revenue growth for HHLA, amounting to €436 million [1][3] Container Throughput and Trade Partners - In Q1, Hamburg Port's container throughput with China accounted for nearly 30% of the total throughput, with 2.2 million TEUs recorded in the previous year, reflecting a 0.7% increase [3] - The port is also expanding its trade with other Asian markets, with container throughput with India reaching 60,000 TEUs (up 39.6%) and with Malaysia at 54,000 TEUs (up 50.6%) [3][4] Transportation and Logistics - The port's transshipment volume increased by 15.3% in Q1, reaching 723,000 TEUs, driven by new Far East routes [4] - Inland transport volume rose to 1.3 million TEUs, a 1.8% increase year-on-year, with rail transport accounting for 645,000 TEUs, up 0.7% [4] Impact of U.S. Trade Policies - Container shipments from Hamburg Port to the U.S. fell by 19.0% in Q1, totaling 145,000 TEUs, influenced by the tariffs imposed by the Trump administration [5] - The U.S. was previously Hamburg's second-largest trade partner, with a record of 685,000 TEUs last year, reflecting a 5.0% growth [5] - The uncertainty surrounding U.S. trade policies has led to a cautious response from traders, impacting the volume of goods shipped to the U.S. [5] Economic Context - Germany's GDP grew by 0.4% in Q1 2025, benefiting from a frontloading effect as companies exported products in anticipation of increased tariffs [6] - The economic growth is seen as the strongest since Q3 2022, indicating a potential resilience in the face of geopolitical tensions [6]