In the first two months of 2024, container turnover of ports in the North West region increased by 121% compared to the same period last year. Denis Ilatovsky, senior vice president of Delo Group of Companies, mentioned this when speaking at the TransRussia 2024 exhibition, reports »Kommersant”.
A sharp decline in container turnover in the ports of St. Petersburg, Ust-Luga and Kaliningrad occurred in the spring of 2022 after the separation of global container lines and the closure of the largest European centers for Russian cargo.
“In the first half of 2022, there was a decrease of 60-85% compared to 2021,” Ilatovsky said.
The growth in transshipment volumes in 2023-2024 is due to several factors. First, new operators from China, Turkey and the Middle East, as well as Russian participants specializing in maritime services, entered the market. “Numerous Chinese, Turkish and Middle Eastern companies have emerged, as well as Russian market participants specializing in maritime services,” said Denis Ilatovsky.
Secondly, the cost of transporting containers from North Western ports has fallen to a competitive level compared to Far Eastern ports.
“The most important factor in the last two months is the stabilization of markets in the Far East and North West in terms of shipping costs,” said Albert Likholet, CEO of Global Ports. According to him, freight prices were determined at 4.5-5 thousand dollars per container.
Another factor was the emergence of importing passenger cars from China in containers through northwestern ports. “They have now almost reached equilibrium, settling at 4.5-5 thousand dollars per container,” Likholet added.
“Freight rates have been falling over the past year, especially in the Northwest. “They have now almost reached a state of equilibrium, settling at 4.5-5 thousand dollars per container,” explained the CEO.
Despite the recovery in the container segment, overall cargo turnover at Baltic Basin ports is still behind pre-crisis levels due to continued cargo outflow. However, market participants predict that container traffic in the northwest direction will increase further.
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