Helsinki Port incurs loss as cargo handling, passengers reduce

The Port of Helsinki has incurred revenue loss in the first nine months of the year as cargo handling and transportation of passengers declined significantly due to coronavirus pandemic.

The Port of Helsinki Ltd’s turnover for January–September was EUR 52.5 million, which is EUR 21.0 million (or 28.6%) less than the turnover in the corresponding period of the previous year, said a press release on Friday.

Due to the prevailing coronavirus pandemic and the resulting decrease in the amount of traffic, as well as the poor financial situation, the turnover for 2020 is estimated to be EUR 66.8 million (2019: EUR 95.6 million), which will be a clear loss for the company.

At the end of the third quarter, the port operations suffered from the travel restrictions.

The number of liner traffic passengers at the port between January and September was 4.1 million, which is 53.9% less than that in the corresponding period of last year.

Between January and September, the Port of Helsinki Group’s total cargo traffic was 9.8 million tonnes, which is 9.0% lower than January-September of last year.

The same level of roughly 10% lower than last year is also expected to continue for the last quarter of the year.