AS Russian trade dries up in the West, Moscow's TransContainer aims to invest US$300 million in the east as China leads a recovery in Asian imports and exports, reports Reuters.
TransContainer plans to spend $330 million this year on rail cars, containers, and terminals to account for growing trade in eastern Russia.
'Over nearly the last three months - June, July, August - we are seeing a recovery of export-import flows, and at the moment, flows are more or less balanced,' said TransContainer first vice president Victor Markov
'The last two months are showing convincing growth,' said Mr Markov, pointing to August volumes of 94,000 TEU.
The shift in trading patterns follows a collapse in Russian imports after Moscow sent troops into Ukraine on February 24.
Imports from China have since recovered, rising 22 per cent year on year in July after four straight months of declines.
Russia's exports to China jumped 80 per cent in May, 56 per cent in June, and 49 per cent in July compared with the same months of 2021.
In the first seven months of the year, exports at Russia's northwestern ports fell 51 per cent year-on-year and imports dropped 46 per cent.
In the Far East, imports were up 7.5 per cent in that period, and exports had risen 38 per cent year on year.
'Imports are now the main driver of growth,' said Mr Markov.
'If we look at volumes for eight months, then import volumes have grown 12.5 per cent on last year's level.'
SeaNews Turkey
TransContainer plans to spend $330 million this year on rail cars, containers, and terminals to account for growing trade in eastern Russia.
'Over nearly the last three months - June, July, August - we are seeing a recovery of export-import flows, and at the moment, flows are more or less balanced,' said TransContainer first vice president Victor Markov
'The last two months are showing convincing growth,' said Mr Markov, pointing to August volumes of 94,000 TEU.
The shift in trading patterns follows a collapse in Russian imports after Moscow sent troops into Ukraine on February 24.
Imports from China have since recovered, rising 22 per cent year on year in July after four straight months of declines.
Russia's exports to China jumped 80 per cent in May, 56 per cent in June, and 49 per cent in July compared with the same months of 2021.
In the first seven months of the year, exports at Russia's northwestern ports fell 51 per cent year-on-year and imports dropped 46 per cent.
In the Far East, imports were up 7.5 per cent in that period, and exports had risen 38 per cent year on year.
'Imports are now the main driver of growth,' said Mr Markov.
'If we look at volumes for eight months, then import volumes have grown 12.5 per cent on last year's level.'
SeaNews Turkey
