The European Sea Ports Organisation (ESPO) has launched the results of the ESPO Port Investment Study 2024, which offers an analysis of the investment pipeline and challenges of European ports.
This study reveals that the investment needs of European port managing bodies amount to €80 billion for the next 10 years, up to 2034. A second key finding is that the investments in the sustainability and energy transition are becoming the second most important investment category for port authorities.
According to ESPO, ports in Europe do more than before. From being multimodal hubs in the supply chain linking the sea with the hinterland, ports are developing into hubs and facilitators of sustainable energies, clusters of industry and circular economy, as well as important pillars of geo-political and geo-economic resilience. The new functions of ports are coming on top – not instead – of their traditional roles. The investment pipelines of Europe’s ports reflect this changing and multidimensional role.
Key findings
- Europe’s ports have a strong investment pipeline, with plans to invest €7-9 billion annually over the next decade.
- Transition to sustainable transport and clean energy is a significant driver of port investments, with many projects aimed at enabling this transition.
- Common investments by port managing bodies (PMBs) include onshore power supply (OPS), clean energy generation, and energy management.
- PMBs are expanding service provision to facilitate the transition to sustainable transport and clean energy, offering services like OPS, charging facilities, and clean fuels.
- Investments aim to create value for port users and society, with 84% of projects directly or indirectly contributing to sustainable transport and clean energy.
- Public funding is crucial for implementing planned projects, with financing identified as the most critical bottleneck. Ports seek funding from regional, national, and EU sources.
The study shows that next to investments in developing basic port infrastructure and keeping it state-of-the-art, port managing bodies are more and more investing to take up strategic and social responsibilities and achieving Europe’s ambitions.
As explained, this often implies projects with a high societal value, yet slow, low and risky returns on investment. Europe’s port managing bodies are fully committed, but need European support to turn all goals and ambitions into a success. These findings underline the need for dedicated port envelopes within the different EU funding instruments, in the first place through the Connecting Europe Facility, or a likewise funding instrument.
In light of the study’s findings, ESPO calls upon policymakers to recognise the strategic importance of European ports and to provide a robust support framework that addresses the investment challenges they face.
“This updated Port Investments Study clearly shows that the changing and wider role of ports today comes with new and wider responsibilities and investment needs. It often means investment with a less predictable return on investment. As stated in our memorandum for the European elections, ports are ready to engage and be part of the solution. To live up to the tasks and responsibilities that are assigned to them in the new geopolitical and geo-economic context, ports need support”, says ESPO Secretary General Isabelle Ryckbost.
