Global Ports’ 2022 consolidated marine container throughput declined 37.1% YoY
The Group’s Russian container market fell by 24.3%
In 2022, Consolidated Marine Container Throughput of declined 37.1% y-o-y to 992 thousand TEU (Q4 22: 179 thousand TEU or a decline of 53.6% y-o-y), according to operational results of Global Ports Investments PLC for Q4 2022 and FY 2022.
On the back of significant reduction of vessel calls of key container shipping lines to the ports of Russia, both the Russian container market in the Baltic basin and the Group’s terminals located therein experienced severe decline in container, cars and Ro-Ro throughput in Q4 2022 and FY 2022. At the same time, container throughput in the Far Eastern basin and at VSC, the Group’s terminal in Far East, increased driven by a rebuilding of supply chains from European to Asian routes.
Container throughput at First Container Terminal totaled 216 thousand TEU (-65.5%, year-on-year), Petrolesport – 133 thousand TEU (-66.7%), Ust-Luga Container Terminal — 18 thousand TEU (-38.2%).
Container throughput at VSC increased in 2022 by 20.1% y-o-y to 624 thousand TEU (Q4 22: 167 thousand TEU or growth of 31.6% y-o-y) posting a record volume in terminal’s history.
The Group’s Consolidated Bulk Throughput increased by 13.7% y-o-y to 3.6 million tons in 2022 (Q4 22: 1.3 million tons or growth of 62.3% y-o-y). Handling of Ro-Ro cargo in 2022 fell by 82.8% to 4.3 thousand units; cars — by 82.4% to 18.4 thousand units.
“The market outlook for 2023 remains uncertain. Although we see our customers’ growing interest in container vessel calls in the Baltic basin, we do not see ground to expect market recovery to 2021 volumes in the region in 2023. The Far Eastern market is experiencing high demand which might exceed capacity of container terminals and the supporting infrastructure in the region driving the Group’s intention to continue further development of VSC. In the Baltic region the Group is focusing on the utilisation of its terminals with non-containerised cargoes as well as on cost management,” reads the statement.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput.
Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi- Link Terminals in Helsinki and Kotka). Global Ports also owns an inland container terminal Yanino Logistics Park located in the vicinity of St Petersburg.
Global Ports’ major shareholder is Delo Group, one of the largest private transportation and logistics holdings in Russia (61.5%). 20.5% of Global Ports shares are traded in the form of global depositary receipts.
