Another strong quarter for Freight

With the Q4 and full-year report, we mark the end of a very special and difficult year.
But even if we had a hard time in 2020 with the corona crisis and Brexit, there were consolations in some areas which helped us stay strong and resilient.

Read more about our Q4 and full-year results here

Please find the results with additional comments for the individual BU’s here:


Total Freight
Total Q4 freight volumes increased 13.3% compared to 2019 and increased by 14.7% adjusted for a structural route change in Baltic Sea.

Total Passenger
Total Q4 passenger volumes decreased 81.2% compared to 2019 due to the tight travel restrictions that were in place throughout the quarter.

BU North Sea
Q4 freight volumes were up 15.9% compared to 2019. The UK stockbuilding ahead of Brexit boosted volumes on the routes calling the UK, particularly between Netherlands and UK.

Baltic Sea
Q4 freight volumes were up 10.4% compared to 2019 adjusted for a route change. The volume increase was primarily due to an increase in capacity between Estonia and Sweden.

Q4 freight volumes were 17.3% above 2019 as the market was boosted by the UK stockbuilding ahead of Brexit.
Q4 passenger volumes were down 81.1% as tight travel restrictions were upheld throughout the quarter.

Q4 freight volumes increased 4.0% driven by a general uplift in trading between Turkey and Europe as well as an improved level of activity among customers in the region surrounding the Mersin port in southern Turkey.

Travel restrictions were tight throughout the quarter which led to a decrease in passenger volumes of 93.5%. Both ferries between Netherlands and UK remained deployed in the quarter to support freight volumes. One of two ferries were laid up on the route between Norway and Denmark as freight volumes are lower on this route.

Total Q4 logistics volumes increased 2.2% compared to 2019.

Q4 transported units increased 15.0% mainly due to the addition of volumes from the acquisition of a Finnish company in Q4 2019. There was an uplift in volumes from the UK stockbuilding in December but this was offset by lower activity in other areas through the quarter.

Q4 transported units increased 4.8% driven mainly by stockbuilding volumes from Netherlands and Germany to the UK as well as improved performance of the special cargo operations. In Belgium, volumes were below last year due to a decrease in volumes from sectors exposed to Covid-19, including automotive and airline catering.

UK & Ireland
Q4 transported units decreased 7.2% driven by lower volumes in parts of the cold chain activities, including a reduction in warehousing volumes and lower seafood volumes to the catering sector. Scottish aquaculture volumes were above 2019.


February 10, 2021