Geminor Boosts Handling Volume To 1.8 Million Tons
Despite last year’s economic and geopolitical turmoil, waste and commodities trader Geminor continued to grow in 2022. As the Norwegian company announced today, Geminor was able to increase its handling volume by almost nine percent from 1.67 to 1.82 million tons of waste compared to 2021. However, the growth is lower than expected.
According to the information, Geminor recorded an above-average growth of 14 percent in the handling of processed municipal waste for energy recovery. These alternative fuels, traded under the designations RDF (Refuse derived fuel) and SRF (Solid recovered fuel), account for almost two thirds of Geminor’s total handling volume.
According to Geminor, the handling of hazardous waste and plastic waste has developed from a significantly lower level, but with high growth rates of 40 or more than 200 percent. On the other hand, trade in waste wood for material and energy recovery, as well as in cardboard and paper, fell by five and 21 percent respectively.
“It is gratifying that we were able to significantly increase our volumes compared to 2021,” Geminor CEO Kjetil Vikingstad draws a positive conclusion overall. However, a slightly larger increase was expected. “A turbulent year of high energy prices, high inflation and lower business activity has led to a drop in waste volumes and a new market situation. The political and economic changes that we saw in 2022 – some of them triggered by the Russian attack on Ukraine – had consequences for the recycling industry in all countries where Geminor has a presence,” explained Vikingstad.
Germany and Finland Have Evolved From Waste Exporters to Importers
For Geminor, this meant the company had to adjust to a new reality in some European countries. Countries like Germany and Finland have changed from export to import markets. In the UK, according to Vikingstad, more and more national companies have taken on a larger proportion of the waste, resulting in less export of waste resources. However, Geminor has increased its tonnage in the UK by securing higher national sales here in 2022.
The Norwegian home market was comparatively stable. According to the information, Geminor has handled about the same tonnage in the company’s largest market as in 2021. However, the competitive pressure has increased. Basically, the significant increase in competition for waste quantities was the international common denominator in 2022, according to Vikingstadt.
Growth in Southern Europe
According to Geminor, exports and deliveries from southern and eastern Europe helped to balance and stabilize the market last year. Geminor increased shipments of waste resources from these surplus markets.
According to the information, an important market for waste raw materials in high demand in 2022 was Italy, which ensured the supply of market players in Central Europe and in the Nordic countries. The Polish market has also developed further. Geminor made several RDF deliveries from here, including to Germany. And in Denmark, too, the year went well for the Norwegian material flow trader. According to Vikingstad, Geminor has been able to significantly increase the export of waste wood from Denmark.
“If 2022 has taught us anything, it’s that it’s important to be present in multiple markets. Our goal is therefore to contribute to the development of new surplus markets such as France, so that we can ensure the supply of European customers in the coming years,” summarizes Vikingstad.
This article is originally published on euwid-recycling.de.