The Freeport of Riga cargo turnover down by 2.1% in 11 months of 2015
During 11 months of 2015 36.5 million. tons of various cargo were handled at the Freeport of Riga, which is by 2.1% or 0.77 million tons less than during the reference period in 2014, the company said in its press release. Although this year the volume of cargo has declined, in general it is the second most successful period in the history of the port. The relevant indicators are partly attributable to the fact that in the last months of 2014 there was a record cargo turnover (on average - 3.7 million tons per month).
Riga City Council Deputy Mayor and Chairman of the Board of the Freeport of Riga Mr.Andris Ameriks provides the following comments in regards of cargo turnover trends in the region: “Despite the geopolitical events, that had negative general impact on sea-bound cargo shipping in the Baltic region, current performance indicators of the Freeport of Riga are not a surprise. Elaborating the budget 2015, the Freeport of Riga Authority, despite various speculations about the possible dramatic fall in freight, managed to maintain a prudent position, having determined objective risks rather precisely. We predicted a 10% drop in the end of the year, nevertheless it is just - 2.1% in November. Without being ahead of time and without mentioning concrete figures in regards of the total annual cargo turnover, I can only stress that one of the main trump cards of the Freeport of Riga and a security guarantee in relation to the forecasted cargo turnover volumes are long-term contracts, concluded with the entrepreneurs, and the cargo owners’ investment in construction of the terminals in Riga port”.
According to the operational information, provided by the stevedoring companies, no significant changes in cargo turnover are forecasted in December, and it is planned to handle 3, 26 million tons of cargo.
Within 11 months of 2015 the total bulk cargo turnover decreased by 370, 8 thousand tons (-1, 7%) and amounted to 21, 1 million tons. The largest volume increase was registered in wood pellets (+ 45, 9%, or +412, 0 thousand tons) and wheat products (+ 37, 2% or +258, 5 thousand tons.). The handled amount of mineral fertilizers (+ 4, 1%, or +92, 2 thousand tons) also increased. As for the dry bulk segment - during the reference period the volume of all metal group cargo - ore (-41, 9%), scrap metal (-24.7%), ferro-alloy (-78, 6%) and metals (-23, 8%) decreased.
During the reporting period the port handled 13, 1 million tons of coal, which is by 396, 0 thousand or 2, 9% less than during 11 months in 2014.
As for 11 months of 2015 - the volume of general cargo, handled at the port, dropped by 0, 85 million tons (-13, 0%, 5, 7 million tons). Reduction can be mainly attributed to reduction of containerized cargo volume (-306,9 thousand tons, or -8,1%), significant containerized cargo volume decline has been recorded this year in all ports of the Eastern coast of the Baltic Sea, ro-ro cargo volume (-227,6 thousand tons, or -50,1%) - the relevant drop is associated with the reduction of Tallink line voyages, as well as to reduction of general cargo of wooden materials (-219,2 thousand tons, or -11,3%), due to a decline in demand in traditional export markets.
Compared with October, in November there has been a slight increase in the volume of transshipped oil products (0, 76 million tons). In general, liquid cargo segment demonstrates positive dynamics (9, 7 million tons; + 4, 9%, or +452, 6 thousand tons). “The current rends demonstrate that the ability to make a targeted investment and competitive service provision are those criteria that make cargo owners to cooperate with the Freeport of Riga. Our investments in port infrastructure and dredging pay off”, says the Chairman of the Board of the Freeport of Riga Mr. Andris Ameriks.
