Norway Infrastructure News
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Oslo port hits record revenue last year

19/03/2024, 14:35
Oslo port hits record revenue last year
Photo Johnny Syversen
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“Even with reduced volumes of goods, sales and rental income increased in 2023. Oslo Port has a clearer focus on commercial operations. Higher prices provide income for renewing infrastructure and facilitating more environmentally friendly maritime transport,” says Port Director Ingvar M. Mathisen.

About 75 percent of Oslo Port’s revenues come from port-related activities. The remainder comes from the leasing of land and buildings.

The port’s pricing also serves as a tool to achieve environmental goals.

“It should be profitable to invest in and utilize zero-emission technology. Increased environmental contributions from all ships and differentiated environmental discounts are accelerating investments. Ships that reduce emissions should be rewarded,” says Ingvar M. Mathisen.

More Passengers, Less Cargo Last year saw an increase in passengers traveling via Oslo port. Nearly two million passengers chose to travel with international ferries to Kiel and Copenhagen, marking a 12% increase from the previous year.

156 cruise ships with nearly 360,000 passengers visited Oslo, representing a 33 percent increase in passenger numbers.

4.2 million passengers traveled with local scheduled passenger traffic (Ruter), reaching levels higher than before the pandemic.

With rising inflation and interest rates, the volume of goods through Oslo port decreased across most segments, ranging from consumer goods in containers to oil and new cars.

Yilport Oslo is Norway’s largest container port. Over time, an increasing number of goods have been arriving in Oslo by sea, reaching a preliminary peak in 2022 with 299,000 TEU. Towards the end of 2022, the situation changed significantly for the worse due to the recession, continuing through 2023. Container turnover ended at 243,000 TEU, a reduction of 19 percent.

Port operations have always been vital for Oslo. Passenger traffic helps to connect Oslo with surrounding areas. The port brings in large quantities of goods that the city and surrounding areas rely on to function.

“In a world of significant geopolitical unrest and increasing uncertainty, the port’s critical role in supplying the city with goods becomes even clearer. It highlights our essential role in facilitating an efficient, environmentally friendly, and modern port. The goal is more goods by sea and reducing fossil fuel heavy transport on the roads,” says Ingvar M. Mathisen.