IJSC Global Ports Investments has released its operational results for Q2 and H1 2024.
In Q2 2024, the Russian marine container market continued to recover rapidly. Total container throughput at Russian marine terminals increased by 11.8 per cent Year-on-Year (YoY) and 3.4 per cent Quarter-on-Quarter (QoQ) to 1.33 million TEU.
In H1 2024, total container throughput grew by 14.6 per cent YoY to 2.63 million TEU and reached levels of the record 2021 year.
The Baltic basin outperformed the market, with Northwest Russia’s container throughput rising 33 per cent YoY in Q2 2024 and 58.2 per cent YoY in H1 2024, increasing its market share to 32 per cent from 23 per cent. Southern Russia’s terminals saw lower growth, with throughput up 5.6 per cent YoY in Q2 and 6.2 per cent YoY in H1 2024.
The Far East basin’s throughput remained stable, with its market share dropping to 44 per cent from 51 per cent due to Baltic recovery.
Global Ports’ throughput increased 30.5 per cent YoY to 271,000 TEU in Q2 2024, and 44.2 per cent YoY to 568,000 TEU in H1 2024.
Since the beginning of 2024, the growth rate of Global Ports’ consolidated container throughput has exceeded the market growth rate due to the favourable positioning of terminals in the Baltic basin.
In Q2 2024, container throughput at the company’s marine terminals in the Baltics increased to 167,000 TEU or 2.8 times YoY, and this is the highest container throughput over the last nine quarters. Key factors behind the volume growth at Global Ports’ terminals in the Baltics are import supplies and cabotage transportation.
The Holding continues to increase the handling of non-containerised cargo: in H1 2024, the growth rate of bulk cargo throughput was 11.0 per cent YoY and in absolute values bulk cargo throughput at Global Ports’ marine terminals set a record for the first half of the year and reached 3.3 million tonnes.
Last September, Global Ports Group and Hua Xin Container Lines, a Chinese shipping line, signed a Memorandum of Cooperation (MoC) to expand sea container transportation between Chinese ports and the Russian Far East.
