Europe

The Eurozone HCOB Purchasing Managers’ Index (PMI), calculated by S&P Global, rose to 49.5 in January from 48.8 in December, marking the highest reading in recent months, though the figure remains in contraction territory. Meanwhile, the Industrial Production Index (IPI), which is part of the overall PMI, returned above the threshold and reached 50.5, up from 48.9 the previous month, indicating moderate output growth. At the same time, new orders fell for the third consecutive month.

HyNetwork has completed the detailed design phase of its hydrogen network in the North Sea Canal area, marking a key milestone in the project’s development. The project involves the construction of a new hydrogen pipeline and the conversion of an existing gas pipeline to transport hydrogen. Thanks to the detailed documentation, the pipeline locations and installation methods in one of the busiest infrastructure areas of the Port of Amsterdam have now been determined with millimeter precision.

DSV disclosed the cost of integrating DB Schenker, estimating total transaction and integration costs at approximately DKK 11 billion (€1.5 billion). According to the group’s 2025 annual report, the bulk of these costs will be incurred in 2025–2026. The company notes that the integration process is proceeding faster than initially planned, but is accompanied by higher short-term costs. In 2025 alone, DSV wrote off DKK 4.53 billion in special expenses, more than five times the previous year’s figure, putting pressure on net profit despite increased operating profit.

The Czech State Fund for Transport Infrastructure will allocate about €2.9 billion to rail projects this year, including around €0.8 billion for track maintenance. Additional funding will go to station renewals, level crossing safety (around €30 million) and network electrification.

The European Bank for Reconstruction and Development, together with the International Finance Corporation, is supporting the Cabinet of Ministers of Ukraine in preparing an open and competitive international tender for the concession of the Chornomorsk Port Container Terminal. The EBRD emphasizes that the project is being implemented according to high international transparency standards and is intended to attract private investment to modernize one of the Black Sea’s key ports and improve its operational efficiency.

DSV Group delivered solid financial results in the fourth quarter and for the full year 2025, despite a challenging and volatile market environment. Gross profit in Q4 2025 reached DKK 19.1 billion, and EBIT before special items was DKK 5.6 billion, largely driven by the contribution of the acquired Schenker. For the full year, EBIT before special items was DKK 19.6 billion, revenue increased to DKK 247.3 billion, and adjusted free cash flow reached DKK 16.3 billion, reducing net interest debt by more than DKK 7 billion since the acquisition.

Representatives of Bulgaria, Greece, Romania, and the European Commission met in Sofia to discuss the development of the Black Sea-Aegean Sea cross-border transport corridor, as part of a cooperation agreement signed in Brussels in December 2025. The parties discussed key infrastructure projects aimed at improving regional connectivity, including road, rail, and border crossings, as well as the synchronization of national investment plans.

The Klaipeda State Seaport Authority has announced the start of the procurement process for contractors for the first stage of the southern port development. The selected contractor will build the southern port gate, marking the starting point of a large-scale port infrastructure expansion project. Algis Latakas, General Director of the Port of Klaipeda, noted that the need to develop the southern zone has been emphasized for several years, and the announcement of the tender is a tangible step toward the launch of the largest project in the port’s history, with construction scheduled to begin this year.

French shipping group CMA CGM, together with American infrastructure investment company Stonepeak, established a new terminal company, United Ports LLC. The deal consolidates ten strategically important container terminals in Europe, North and South America, and Asia, previously managed by a CMA Ports subsidiary, under a single holding company. United Ports is headquartered in the United States, with CMA CGM retaining a 75% stake, Stonepeak receiving 25%, and CMA CGM retaining operational management of the assets.

In the coming years, the Ülemiste district will become Tallinn’s new urban center, thanks to large-scale development around the capital’s largest transportation hub. Tallinna Lennujaam, Rail Baltic Estonia, and Mainor Ülemiste are jointly investing approximately €500 million to transform the former industrial area into a modern, internationally oriented business and community center. Rail Baltica plays a key role in this process, integrating international and domestic rail connections, trams, buses, and the airport into a single space. According to Sten Pärnits, head of Mainor Ülemiste, Ülemiste will become more than just a transportation hub, but a “city within a city,” complementing Tallinn’s historic center and the Telliskivi district.