Hungary's newly appointed government has placed its planned terminal at the Italian port of Trieste under formal review, putting a project worth roughly €150m in Hungarian investment and a 2028 completion target into question.

The Ministry of Transport, which received responsibility for the scheme following the change of government, is now assessing the project's financial, technical and commercial feasibility, according to Hungarian media outlet Telex. A ministry representative said a decision can only be expected once the review is complete.

The stakes for Hungarian shippers are considerable. A terminal in Trieste would give landlocked Hungary direct access to one of Europe's major deep-sea gateways, shortening the path to Mediterranean shipping lanes and strengthening rail-based supply chains to Central Europe. The plan calls for redeveloping the site of the former Aquila refinery, which closed in the 1980s, into an intermodal rail terminal operating under the name Adria Port.

The project had gathered pace under the previous Orbán government, which targeted completion by 2028. In March, Adria Port and Gysev Cargo signed an agreement to operate a rail service linking Trieste with Hungary, signalling that operational planning was already advanced. The new government now wants to establish whether the project is financially and commercially viable before committing further.

Italy pressing ahead on the maritime side

The review in Budapest has not stopped work on the Italian side of the border. The Trieste Port Authority is investing around €45m in quay works designed to prepare the site for larger vessels, and those works are continuing.

Hungary, for its part, is expected to invest around €150m in land redevelopment and terminal construction — a commitment that now depends on the outcome of the ministry's assessment. The split leaves the project in an unusual position: maritime-side preparations advance while the land-side funding decision hangs in the balance.

What it means for the market

For carriers and forwarders routing Asian and Mediterranean cargo through northern Adriatic gateways, the uncertainty adds a question mark to one of the region's planned capacity additions. Trieste has positioned itself as a competitive alternative to northern European ports for Central European freight, and a Hungarian-operated rail terminal would have deepened that hinterland connection.

For Gysev Cargo, which signed the March rail agreement with Adria Port, the review creates a wait-and-see situation on a service that was meant to anchor the terminal's land side. For Hungarian exporters and importers, the project represents a potential reduction in dependence on third-country ports for seaborne trade.

The ministry has given no timetable for the review's completion, meaning the fate of the 2028 target remains unclear. Until Budapest rules on feasibility, the €45m of Italian quay works will continue against a backdrop of unresolved Hungarian commitment.