Abridged AnnuAl report 2013
port of rotterdAm Authority
Investing in the future
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Port of Rotterdam Authority Abridged Annual Report 2013 2
Foreword by the Executive
investing in the future
Investments drive the growth of the Port of Rotterdam.
The Port of Rotterdam Authority plays an important role
in this. In May, for example, Maasvlakte 2 was opened to
shipping. This was an important milestone, providing
scope to businesses for growth and development.
We also embarked on modernising shipping control with
the commissioning of the totally refurbished Traffic Centre
Hook of Holland. In 2013, the Port of Rotterdam Authority
invested a total of 263 million.
Other parties also invested heavily in modernising and
expanding capacity in and around the existing port area.
Projects involved widening the Amazonehaven for the
increasingly large container ships as well as widening the
A15 and laying the A4 between Schiedam and Delft.
These investments not only focus on infrastructure aimed at
throughput and production. Together with the environmental
protection agency for the Rijnmond region (DCMR Milieudienst
Rijnmond) and other parties, we embarked on expanding the
We-nose network. The aim is to provide detailed, real-time
insight into the air quality in and around the port. This is one
of the initiatives to improve living conditions, transparency and
the relationship with the environment. We intensified relation-
ships by establishing a social dialogue between employers
and employees, so that they could discuss labour and training
issues. We also devoted attention to the relationship between
the city and the port. Through various projects, we are making
the port visible in the centre of Rotterdam. These include the
LED screen with images of the port in the entrance hall of
Rotterdam Central Station. On the RDM site, we are reno-
vating the historic buildings of the former shipyard to provide
accommodation for modern business activity and education.
The World Economic Forum named the Dutch port infra-
structure the best in the world for the second year in a row.
The Port of Rotterdam was also voted Port of the Year at
the annual Containerisation International Awards in London.
At the same time, throughput declined by 0.2% compared with
2012. Our neighbouring ports performed better. This clearly
shows that for the port needs more than physical infrastructure
alone to perform well.
We will have to work hard on this in the coming years.
Issues demanding our full attention include how to strengthen
Rotterdams position in the consolidation of container shipping
and how to reinforce connections to the hinterland. Above all,
we will have to focus on the rail product. Other areas of atten-
tion are improving the efficiency of the chemical and energy
sectors, promoting the bio-based and recycling industry and
optimising our use of the residual heat from industry.
The Port of Rotterdam Authority must create the right condi-
tions for all these issues. This means continuing to invest in
port infrastructure, because we want to remain the best in
the world. It also means investing in all these other aspects
of the port to ensure that the port continues to make a major
contribution to the welfare of the region, the Netherlands and
Europe in the coming years. This requires excellent interaction
between many different organisations, companies and govern-
ment authorities.
Our employees and the Works Council deserve a word of
thanks for their commitment, efforts and engagement in 2013.
We are conscious of the fact that this does not happen as a
matter of course and it will remain an important factor for the
Port of Rotterdam Authority.
Special thanks are also due to Hans Smits, who headed the
Port of Rotterdam Authority for the past nine years. He left
the company on 31 December 2013 and was succeeded by
Allard Castelein on 1 January 2014.
This was a period in which the organisation took major steps
in the field of results orientation, business-like working and
transparency, a period in which our image surveys showed that
appreciation of the Rotterdam port was growing. In this period
too, Maasvlakte 2 was completed and the port and industry
invested 1.5 to 2 billion euros a year.
Port of Rotterdam Authority
Rotterdam, the Netherlands, 21 February 2014
Executive Board
Allard Castelein, Ronald Paul and Paul Smits
34.0%increase in turnover
in 2013
226.6million euros net result
in 2013
turnover result
263.0million euros invested in
2013
investments
440.5million tonnes of throughput
in 2013
total throughput
11.6million teu
in 2013
45%of the shipments from containers from the maasvlakte travelled by road in the 1st half of 2013
throughput in teu modal split
6.5%Co2-reduction
in comparison with 2010
Co2-footprint
1,118year-end 2013
number of employees
37.5%market share in hamburg
le havre range in 2013(up to and including third quarter)
market share
408.6million euro result before interest, depreciation and
amortisation and tax in 2013
ebitdA
29,448seagoing vessels
in 2013
5,971*hectares of port area in 2013
* incl. issuable land Maasvlakte 2
Vessel visits of port area
At a glance
Port of Rotterdam Authority Abridged Annual Report 2013
4Market position
The port of Rotterdam is the largest port in Europe. It is our
ambition to maintain and strengthen this position as market
leader. Rotterdam has held a strong position in the Hamburg
Le Havre range for years. As the port of Rotterdam is impor-
tant for the throughput of many different commodities, total
throughput is less vulnerable to market fluctuations in specific
sectors.
The market share for all commodities up to and including the
3rd quarter of 2013 was 37.5%. This is equal to the market
share for 2012 as a whole. The expectation for the full year of
2013 is 37.2%. The expected reduction is the result of lower
throughput of crude oil and containers in the fourth quarter,
due to incidental factors. The 37.9% target for 2013 will
therefore probably not be achieved.
Throughput in the Port of Rotterdam diminished marginally in
2013 by 0.2% to 440.5 million tonnes. This is 1 million tonnes
less than in the year 2012. From January 2013, the Port of
Rotterdam Authority will operate Dordrecht seaport. The
throughput volume in Dordrecht totalled 3 million tonnes in
2013. If this volume is disregarded in the comparison with
2012, the reduction in the total throughput is 1%.
Incoming throughput grew by 0.2% to 310.8 million tonnes.
Outgoing throughput fell by 1.3% to 129.7 million tonnes.
This reduction primarily concerned container throughput,
particularly deep-sea and feeder volumes. Shipments of
mineral oil products also declined as a result of poor market
conditions in the European refining sector.
throughput port of rotterdam*(Gross weight x 1,000 metric tonnes)
2013 2012
Diffe-
rence
% Diffe-
rence
Iron and scrap 35,944 32,742 +3,202 +10%
Coal 30,675 25,282 +5,393 +21%
Agribulk 10,318 8,050 +2,268 +28%
Other dry bulk goods 12,250 12,029 +221 +2%
Total dry bulk 89,187 78,103 +11,084 +14%
Crude oil 91,054 98,324 -7,270 -7%
Mineral oil 81,608 81,814 -206 -0%
LNG 756 560 +196 +35%
Other liquid bulk 33,381 33,515 -134 -0%
Total
liquid bulk 206,799 214,213 -7,414 -3%
TOTAL DRY 295,986 292,316 +3,670 +1%
Containers 121,251 125,428 -4,177 -3%
Roll on/roll off 18,512 17,919 +593 +3%
Other general goods 4,715 5,865 -1,150 -20%
Breakbulk 23,227 23,784 -557 -2%
TOTAL GENERAL 144,478 149,211 -4,734 -3%
TOTAL THROUGHPUT 440,464 441,527 -1,064 -0%
Total in number of
containers 7,006,301 7,183,675 -177,374 -2%
Total in number of TEU 11,621,249 11,865,916 -244,667 -2%
* Throughput figures include throughput at terminals on the northern banks of the river
(Hook of Holland, Schiedam, Vlaardingen). This throughput accounts for approx. 3% of
the total throughput in 2013. The accompanying port dues are not paid to the Port of
Rotterdam Authority and are therefore not included in the financial reports.
* The market shares are based on the throughput figures until the 3rd quarter of 2013.
Throughput
Rotterdam
(Gross weight x 1 million tonnes, rounded off figures)
Port of Rotterdam Authority Abridged Annual Report 2013
Market share of Rotterdam in
the Hamburg Le Havre range
(per main segment) in %
Market share of Rotterdam in
the Hamburg Le Havre range
(based on total throughput in tonnes) in %
0
20
40
60
80
100
120
0
50
100
150
200
250
300
350
400
450
Nat massagoed
Droog massagoed
Containers
Breakbulk
2011 2012201020092008
434,6 441.5430,2
387,0421,1
2010 2011 201220092008
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
0
50
100
150
200
250
300
2012201120102008 2009
193228 240
174192
0
10
20
30
40
50
60
Liquid bulk
Dry bulk
Containers
Breakbulk
2010 2011 2013*20122009
0
5
10
15
20
25
30
35
40
45
50
Onzekerheidsmarge
Effect maatregelen RCI
CO2 uitstoot
202520202015201120102009200820072006 1990
RealisatieReferentie jaar Ambitie
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
50000
Doel RCI 2025
202520202015201020092008200720062005
0
5
10
15
20
25
30
35
40
Ghent
Zeeland Seaports
Wilhelmshaven
Zeebrugge
Dunkirk
Bremerhaven
Le Havre
Amsterdam
Hamburg
Antwerp
Rotterdam
2010 2011 2012 2013*2009
0
40
80
120
160
200
240
2011 2012
BreakbulkContainersNat massagoedDroog massagoed
Breakbulk 5,5%
Containers 26,1%
Droog massagoed 19,7%
Minerale olieproducten, overig
massagoed en nat 25,4%
Ruwe aardolie 23,3%
Breakbulk
Containers
Droog massagoed
Minerale olieproducten + overig massagoed, natRuwe aardolie
0
40
80
120
160
200
240 2012
2011
Droog massagoedNat massagoedContainersBreakbulk
0
15
30
45
60
75
90
105
120
Quarter 1
Quarter 2
Quarter 3
Quarter 4
20132012201120102009
5Financial results 2013 Harbour Master
After years of rising profits, the result of Port of Rotterdam
Authority fell slightly this year to 227 million euros. This was
not unexpected. After years of major investments, particularly
Maasvlakte 2, depreciation and interest costs have risen
sharply. However, turnover increased by 4%. Land leasing
increased through transfers of sites on Maasvlakte 2 and in
Europoort, the acquisition of a site in the Botlek and the
integration with Dordrecht. As a result of this, rents, ground
leases and quay fees increased by 10%. However, income
from port fees fell, even slightly more sharply than the
throughput, due to somewhat lower prices per tonne on
average. Costs were under control. Personnel costs rose by
1%, driven by pension costs. The other operating expenses
were 6 million higher than in 2012, driven almost entirely
by a large incidental release in 2012 and by the integration
of Dordrecht.
Investments in 2013 amounted to 263 million euros, signifi-
cantly lower than in the peak year of 2012 (626 million
euros). 154 million euros was invested in the Existing
Rotterdam Area and 109 million euros in Maasvlakte 2.
The ratio of investments to EBITDA was equal to 64% in
2013, which is still a very high percentage. This is typical
of the investment machine which is the Port Authority.
The operating cash flow plus the investment cash flow
(excluding the State contribution and the partial release of
this) less the dividend was still negative in 2013, at -16 million
euros. This has been the case since 2008. Due to its high
investments, the Port of Rotterdam Authority structurally
spends more money than it receives. As a result, the long-
term loans have now risen to the record level of 1.2 billion
euros. A ratio as important as the net debt/EBITDA ratio
consequently rose to 2.7, despite the rising EBITDA.
However, this is still well within the terms of all bank cove-
nants. With positive cash flows, this ratio will gradually fall
again in the coming years.
In conclusion, 2013 was a good year with a fine, albeit
slightly lower profit, good control of operating expenses,
a slightly negative cash flow and once again, a high level
of investment.
The Harbour Master ensures effective, safe and efficient
handling of shipping in the ports and the offshore approa-
ches to the ports. The Harbour Master is also the National
Harbour Master and reports to the Minister of Infrastructure
and the Environment. The Harbour Master also performs
tasks in the ports of Rotterdam, Schiedam, Vlaardingen,
Dordrecht, Papendrecht and Zwijndrecht. In this regard,
he reports to the Mayor of the relevant municipal authority.
In 2013, the Harbour Masters division launched the project
Focus on vessels. Within this project, nautical service provi-
ders, terminal operators and the Port Authority work together
to improve the exchange of information and develop more
efficient traffic scheduling in the port.
In order to support the processes of the Harbour Master, the
Harbour Master Management Information System (HaMIS)
was introduced. HaMIS now provides a single information
system to administer, manage and inspect ship visits linked to
a map of the port. The Port of Amsterdam Authority will also
use the system, which contributes to process standardisation.
In 2013, the Harbour Master contributed to a new traffic
separation system in the North Sea. This has improved the
approach of seagoing vessels from the North.
Since 2013, there have also been larger anchorage areas.
Port of Rotterdam Authority Abridged Annual Report 2013
6Port of Rotterdam Authority Abridged Annual Report 2013
Balance sheet(Before appropriation of income,
amounts x 1,000)
31-12-2013 31-12-2012
ASSETS
Fixed assets
Tangible fixed assets 3,611,144 3,476,642
Financial fixed assets 51,952 43,602
3,663,096 3,520,244
Current assets
Inventories 578 599
Accounts receivable 124,791 134,564
Cash and cash equivalents 129,946 42,458
255,315 177,621
TOTAL ASSETS 3,918,411 3,697,865
LIABILITIES
Equity capital
Subscribed capital 900,000 900,000
Share premium reserve 391,200 391,200
Statutory reserves 22,073 17,038
Other reserves 637,827 502,705
Result for appropriation 226,589 227,549
2,177,689 2,038,492
Provisions 54,908 54,246
Long-term debts 1,419,590 1,027,126
Current liabilities 266,224 578,001
TOTAL LIABILITIES 3,918,411 3,697,865
Income statement(Amounts rounded off, x 1,000)
2013 2012
Net revenue 624,110 599,088
Other operating income 15,797 16,242
Total operating income 639,907 615,330
Wages, salaries and social insurance 104,381 103,274
Depreciation of
tangible fixed assets 126,338 120,074
Other operating expenses 126,908 120,928
Total operating expenses 357,627 344,276
Operating result 282,280 271,054
Financial income and expenses -65,045 -50,525
Income from participating interests 9,354 7,020
RESULT 226,589 227,549
Cash flow statement(Amounts rounded off, x 1,000)
2013 2012
Operating result 282,280 271,054
Cash flow from
operating activities 331,951 300,295
Cash flow from
investment activities -558,136 -252,563
Cash flow from
financing activities 313,673 -7,387
Net cash Flow 87,488 40,345
110011001010011100110101
1 2 3 4 65 7
98
Core tasks of the Port of Rotterdam Authority
Strengthening the competitive position of the Port of Rotterdam
Investing in development and maintenance of port sites,
public and client-specific infrastructure
Manager and operator of the Port of Rotterdam
Efficient, safe and effective handling of shipping
Shipping
Tank storage
Chemicals
Industry
Fuel hub
Containers
110011001010011100110101
Digital services
Refining
Road transport
Rail
Inland shipping
Pipeline
Energy (bio, wind, coal, LNG)
1
2
3
4
Cooperation with partners
Dialogue with stakeholders
Promoting access to the port area
Investing in the environment, safety and quality of living conditions
Stimulating the exchange of knowledge and innovation
Working on the port labour market
5
6
7
8
9
7Port of Rotterdam Authority Abridged Annual Report 2013
Nautical opening ofMaasvlakte 2
on 22 May 2013
Granting of two TEN-T subsidies by the EC for the development
of LNG infrastructure
SignatureSector-Wide Approach to
bunkering to improve quality
Opening of new Traffic Centre
Hook of Holland
milestone milestone
milestone milestone
Havenbedrijf Rotterdam N.V. Beknopt jaarverslag 2013
port of rotterdam Authority
The aim of the Port of Rotterdam Authority is to enhance the
competitive position of the port of Rotterdam as a logistics hub
and world-class industrial complex. Not only in size, but also
in quality. The core tasks of the Port of Rotterdam Authority
are the sustainable development, management and operation
of the port and the preservation of the swift and safe handling
of shipping.
Publication: Port of Rotterdam Authority
Editing and consistency control:
Corporate Finance & Control
Graphic design and layout: Smidswater
Photography: Aeroview
Contact
Visiting address
Port of Rotterdam Authority
World Port Center (WPC)
Wilhelminakade 909
3072 AP Rotterdam
The Netherlands
Port number 1247
Correspondence address
PO Box 6622, 3002 AP Rotterdam, the Netherlands
Tel. +31 10 2521010
www.portofrotterdam.com
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