Antwerp - Economy

Economy

According to the American Association of Port Authorities (AAPA), the port of Antwerp was the seventeenth largest (by tonnage) port in the world in 2005 and second only to Rotterdam in Europe. Importantly it handles high volumes of economically attractive general and project cargo, as well as bulk cargo. Antwerp's docklands, with five oil refineries, are home to a massive concentration of petrochemical industries, second only to the petrochemical cluster in Houston, Texas. Electricity generation is also an important activity, with four nuclear power plants at Doel, a conventional power station in Kallo, as well as several smaller combined cycle plants. There are plans for a wind farm in a disused area of the docklands.

The old Belgian bluestone quays bordering the Scheldt for a distance of 3.5 miles (5.6 km) to the north and south of the city centre have been retained for their sentimental value and are used mainly by cruise ships and short-sea shipping.

Antwerp's other great mainstay is the diamond trade that takes place largely within the diamond district. The city has four diamond bourses: one for bort and three for gem quality goods. Since World War II families of the large Hasidic Jewish community have dominated Antwerp's diamond trading industry, although the last two decades have seen Indian traders become increasingly important. Antwerp World Diamond Centre, the successor to the Hoge Raad voor Diamant, plays an important role in setting standards, regulating professional ethics, training and promoting the interests of Antwerp as a centre of the diamond industry.

VLM Airlines has its head office on the grounds of Antwerp International Airport in Deurne, Antwerp; the office is also CityJet's Antwerp office. When VG Airlines (Delsey Airlines) existed, its head office was in Merksem, Antwerp.