GLOBAL Ports has announced that the Russian marine container market increased by 17
GLOBAL Ports has announced that the Russian marine container market increased by 17.7 per cent in Q1 2024 to 1,293 TEU. In its operational results for the first three months of the year, the company, together with its subsidiaries and joint ventures, said container throughput at Russian marine terminals was 0.5 per cent higher than in Q1 2021 and only 1.1 per cent lower than in Q1 2022, reflecting a steady recovery of the Russian container market.
In Q1 2024, rapid recovery in the Baltic basin continued, thus container throughput at Baltic terminals almost doubled to 409,000 TEU. The share of the Baltic basin in the Russian market increased to 32 per cent in Q1 2024 from 19 per cent a year earlier.
Container throughput in the Black Sea basin increased by 6.8 per cent over the past quarter.
Throughput growth the in Baltic and Black Sea basins was to some extent a consequence of a decline in the Far East Basin, where container throughput slightly decreased by 3.5 per cent. The share of the Far East basin in the Russian market went down to 44 per cent in Q1 2024 from 53 per cent a year earlier.
Consolidated container throughput of Global Ports' marine terminals increased to 297,000 TEU in Q1 2024, or by 12.4 per cent quarter-on-quarter (QoQ) and 59.4 per cent year on year. These growth rates significantly exceed market growth for the same period.
Container throughput at Global Ports' terminals in the Baltics in Q1 2024 increased to 155,000 TEU, or a 10.2 times year on year growth and by 23.7 per cent QoQ. On the back of volumes' decline in the Far East basin, Global Ports' terminal in the Far East demonstrated a decrease in container throughput by 16.9 per cent.
Global Ports' marine terminals continued to successfully increase non-containerized cargo throughput. In Q1 2024, consolidated bulk cargo throughput grew by 38.3 per cent to 1.8 million tonnes, reports London's Port Technology.
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