Port of Sines Leaps into Europe's Top 15

Port of Sines Leaps into Europe’s Top 15

Posted by Admin September 10, 2024 World

This significant achievement reflects the port’s growing influence in global trade and its strategic importance within Europe’s maritime network.

Located in Portugal’s Setúbal district, the Port of Sines has long been recognized for its operational efficiency. A recent report from the World Bank and S&P Global placed it 30th among the world’s most efficient ports, underscoring its competitive performance on a global scale. Additionally, the port holds the 19th position in the EU for cargo tonnage, a testament to its expanding role in European logistics.

The port’s success is partly due to its ambitious expansion projects. The Phase III expansion of the Sines Container Terminal, currently underway, is set to enhance the port’s capacity significantly. With a substantial investment of 412 million euros, this project aims to boost the terminal’s throughput to 2.7 million TEUs. Key components of this expansion include a new 204-meter quay, designed to accommodate larger vessels and increase the port’s operational efficiency. Completion of this phase is expected by 2028, further solidifying Sines’ role as a major player in the maritime industry.

Despite a challenging global port environment in 2023, characterized by a decline in traffic across many EU ports, Sines has shown remarkable resilience. The first half of 2024 has already brought double-digit growth in container traffic to seven of the top 15 EU ports, including Sines. This growth highlights the effectiveness of the port’s ongoing improvements and its ability to adapt to shifting market conditions.

Forecasts for 2024 suggest that the Port of Sines will handle more than 2 million TEUs, surpassing its previous records. This achievement is a direct result of both the port’s infrastructure enhancements and its efficient operational practices, which have optimized logistics and streamlined processes.

The Terminal XXI expansion, which began in January 2021, is crucial to the port’s growth strategy. This project, expected to be completed by 2028, will increase the quay length to 1,750 meters, add 19 new quay cranes, and expand the container yard by 60 hectares. These upgrades will enable the port to simultaneously accommodate three large container ships, meeting the increasing demand for its services.

Portugal’s ports, including Sines, have demonstrated remarkable resilience and growth despite global challenges. Ruben Eiras, Secretary-General of the Fórum Oceano Association, highlights the role of technological integration in these successes. Portuguese ports have been at the forefront of adopting digital solutions to improve logistics and reduce congestion, a factor that has been critical in navigating the disruptions caused by the COVID-19 pandemic and recent geopolitical tensions.

The Port of Sines also plays a pivotal role in Europe’s energy landscape. Its deep-water capabilities and expanding infrastructure make it a key gateway for liquefied natural gas (LNG) to Europe, especially amid recent energy crises. This strategic position enhances its importance in meeting Europe’s energy needs and underscores its growing relevance in global trade.

The Port of Sines’ ascent to being one of the top 15 container ports in the EU marks a significant milestone for Portugal’s maritime industry. With ongoing investments and expansion plans, Sines is poised to continue its upward trajectory, enhancing its role in international trade and contributing to Portugal’s economic development. As it evolves, the port remains a critical asset in bolstering Europe’s logistics efficiency and maritime capabilities.

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon – CEO of Casaiberia in Lisbon and Algarve.