THROUGHPUT of Russia's Global Ports' Vostochnaya Stevedoring Company (VSC) totalled 475,000 TEU in 2014 almost unchanged from the year before.
As the recession in Russia began to bite, volumes were still up nine per cent in the first half to 243,000 TEU on the back of "relatively buoyant intra-Asian trades at the start of the Trans-Siberian Railway," said chief commercial officer Egor Govorukhin.
VSC's combined Russian container terminal business also registered growth in the first half of 2014 - of 1.6 per cent - followed by a 4.2 per cent volume decline in the second half, leaving traffic for the year down 1.3 per cent, reported London's Port Strategy.
Mr Govorukhin remains undaunted by the weaker full-year results, and arguably VSC remains a little better protected than the company's assets further west, given their proximity to the Chinese market. Most of the cargo handled there is import/export with some cabotage.
"In 2014, we saw strong growth in the export side of the business, supported by the devaluation of the rouble. Furthermore, VSC is very well positioned to ship transit cargo from China to countries in Central Asia, being just eight kilometres from the Nakhodka-Vostochnaya railway," he said.
Asia remains an important market, with potential existing for more growth. Currently, VSC handles a large part of transit container traffic to the Central Asia and enjoys an ideal location to handle any cargo flows from China. For this reason, it is being developed for the long term. Last year, capacity was increased by a further 100,000 TEU to 650,000 TEU.
As well as Vostochny container terminal - the second most important in the Russian Far East basin - Global Ports is also responsible for container terminals at St Petersburg and Ust-Luga, and has interests in two Finnish ports. For this year, the company has earmarked US$27 million investment in its box terminals, of which 85 per cent will be focused on Petrolesport Container Terminal (PLP) and VSC.
PORTS
05 June 2015 - 08:38
Global Port's box terminal volumes in Russia fall 1.3pc in 2014
THROUGHPUT of Russia's Global Ports' Vostochnaya Stevedoring Company (VSC) totalled 475,000 TEU in 2014 almost unchanged from the year before.
PORTS
05 June 2015 - 08:38
Global Port's box terminal volumes in Russia fall 1.3pc in 2014
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