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We are able to look back with satisfaction on the past year, in which strong performances in maritime freight were achieved. More than 142 million tonnes of freight was handled in 2003, an increase of 8.5% compared with 2002. The container trade is still largely responsible for this spectacular growth; Antwerp is constantly able to attract new trade, and is currently benefiting to a large extent from the growth of trade with China. Conventional cargo on the other hand continues to cause concern. Although there has not been any spectacular decline, this labour-intensive form of freight is lagging far behind the general rate of growth, and Antwerp is losing market share to neighbouring ports that are proving more flexible.

Barge transport too has enjoyed a record year, bringing 76.6 million tonnes to the port of Antwerp. In order for barge transport to contribute to a real modal shift, the Port Authority set up the "Mobility Fund" in collaboration with "Promotie Binnenvaart Vlaanderen" (Flemish barge promotion bureau), the Flemish Region and the Antwerp Port Federation. This fund will be used to spread transhipment work over the day and night shifts, so as to make maximum use of the facilities. As for a modal shift towards rail transport, the Flemish Government gives clear priority to construction of the Liefkenshoek rail tunnel.

Work is progressing rapidly on the Deurganck dock, and concessions have been awarded on both sides of the new facility. Efficient use of space and maximum customer orientation were the two main considerations in sharing out the concessions in the tidal container dock. The first ship is due to berth here in 2005. In the meantime, work has started on "nature compensation areas," with the creation or restoration of nature reserves to compensate for land taken up by development work on the left bank of the Scheldt.

In financial terms 2003 was a less favourable year for the Port Authority. The turnover from port activities remained at a good level, while the operating and personnel costs also remained fairly stable. However, the high nature compensation costs associated with construction of the Deurganck dock weighed on the result, as did the new provisions set aside to comply with the obligations imposed by the Port Decree.

In the meantime we look forward to the future with confidence. The Port Authority is eagerly awaiting the results of studies being carried out in connection with its long term vision on the Scheldt estuarium. One area that will have to be watched very closely concerns the decisions that will be made in relation to further deepening of the Scheldt.

Finally, we would like to take this opportunity of thanking all members of personnel for their enthusiasm and commitment throughout the year, as they make an important contribution to accomplishing our mission. We would also like to thank the private companies operating in the port sector, together with the Flemish and federal authorities, for the confidence that they have shown in us during the past year.