Port of Esbjerg Handles 1.1GW of Offshore Wind in 2016

Business & Finance

Offshore wind farm components accounting for 1,100MW of capacity were shipped from the Port of Esbjerg in 2016, more than double the amount in 2015, according to the port, which reported a record turnover of EUR 30.94 million and a record net profit of EUR 10.68 million for 2016. 

The port estimated the overall offshore wind capacity to be handled in 2016 back in November 2016, when it posted a photograph showing a number of wind turbine components waiting for shipment.

The good financial results in 2016 are due to a high level of activity within the wind industry, RoRo traffic and car imports, and the port expects the high activity to continue in 2017.

“We, for instance, expect to ship out as much offshore wind in 2017 as in 2016. Furthermore, a series of large offshore wind tenders in the North Sea are scheduled over the course of the year, so it looks like the activity within wind will continue,” said Ole Ingrisch, Director at the Port of Esbjerg.

The expectation that the high activity will continue this year, combined with an increasing demand for areas from the wind industry, will be met with the 250,000m² expansion of the East Port, which is well under way and is expected to be completed by the end of the year. The port has invested nearly EUR 27 million in the expansion.

As it reported its annual results for 2015 at the same time last year, the port said it expected the result for 2016 to end at the same level as in 2015, adding that the challenging oil & gas market would make it difficult for both the Port of Esbjerg and the businesses at the port.

However, after the latest financial report, the port pointed out the advantage of diversification.

Flemming N. Enevoldsen, Chairman of the Port of Esbjerg’s board, said: “The keyword is market diversification. The Port of Esbjerg is both the Northern European market leader within offshore wind and the Danish center for RoRo traffic and oil and gas. We cover a total of ten business areas, which supplement each other very well. This makes the Port of Esbjerg very resistant towards the unavoidable fluctuations in the markets.”

Also, the oil price, which is now more stable, gives the Port of Esbjerg a more positive outlook as well.

“It looks like the oil and gas industry can now really start focusing on the future and that we can talk about developing instead of dismantling the industry,” Ole Ingrisch said.