RUSSIA is investing more than US$400 million in the Black Sea Novorossiysk port expansion and deepening project, reports Maritime Executive of Fort Lauderdale.
Construction is set to begin in the first quarter of next year with completion scheduled for 2020.
Russia hopes to boost container volumes at Novorossiysk by 15 per cent annually in to better compete with the Ukrainian's largest ports.
Novorossiysk is Russia's second-largest port and currently accommodates vessels up to 6,000 TEU. Following expansion, the port will be able to handle 10,000 TEU vessels.
Container throughput at Novorossiysk has fallen by nine per cent this year due to falling oil prices, sanctions and the rouble’s decline compared to international currencies.
Russia hopes the port expansion, as well as complementary rail and road connections, will entice shippers to call at Novorossiysk rather than Ukrainian ports such as Illichivsk and Yozhny.
PORTS
11 October 2015 - 19:44
Russia invests US$400 million on Novorossiysk to dock 10,000-TEU ships
RUSSIA is investing more than US$400 million in the Black Sea Novorossiysk port expansion and deepening project, reports Maritime Executive of Fort Lauderdale.
PORTS
11 October 2015 - 19:44
Russia invests US$400 million on Novorossiysk to dock 10,000-TEU ships
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