Russia: Global Ports – terminal throughput Q2 2020

Moscow, Russia (PortSEurope) August 19, 2020 - Global Ports published yesterday its financial results for the period January-July 2020. The report includes container and bulk cargo throughput for the group’s terminals. Throughput of full export containers at Russian terminals continued its rapid growth (+7.5% year-on-year), mainly due to increased exports and the wider use of containers in Russia. Full exports have increased by 102% between 2013-2020, showing a long-term trend supported by increased exports and the containerisation of export supply chains. Please click here for an excel file of container and bulk cargo throughput of the Group’s terminals for Q2 2019 and Q2 2020. As a result of this export growth, the gap between full dry container import and full dry container export is rapidly narrowing, thereby shifting the market towards an import-export balance. In the first half of 2020, the ratio between full dry container export and full dry container import in Russia was 89%, while the Big Port of Saint Petersburg has already become export-driven: dry full container export exceeded dry container import by 18% in 1H 2020. The growth of full container export combined with the ongoing growth in vessel sizes is driving client preference for large well-equipped and efficient terminals and is removing excess capacity from the market. In the first half of 2020 the group continued to outperform the market, with consolidated marine container throughput up 8.4% year-on-year to 774,000 TEU against the container market decline of 2.4% year-on-year over the same period of 2019. As a result of the group’s efforts to increase productivity and customer service standards, the group outperformed the market in both key basins where its terminals are located. Consolidated marine container throughput of the group’s terminals located in the Baltic Basin increased by 8.4% year-on-year in the second half of 2020 against a market decline of 9.2% in the same region, while consolidated marine container throughput of the group’s terminal located in the Far Eastern Basin increased by 8.2%year-on-year in the first half of 2020 against market growth of 6.6%. The Group also outperformed the market in both full import and full export. Consolidated marine container throughput of full export containers in the first half of 2020 increased by 25.1% year-on-year to 350,000 TEU and its share in groups’ consolidated marine container throughput increased to45% compared to 39% in the first half of 2019. Consolidated marine container throughput of full import containers in the first half of 2020 decreased by 1.1% year-on-year to 293,000 TEU and its share in the groups’ consolidated marine container throughput decreased to 38% in the reporting period compared to 41% in the first half of 2019. Consolidated marine bulk throughput increased by 11.9% year-on-year to 2.2 million tonnes in the first half of 2020 as coal handling at ULCT in the first half of 2019 was in the early ramp-up stage. Car and high and heavy Ro-Ro handling declined by 39% and 8% respectively year-on-year in the first half of 2020, reflecting the slowdown in Russian consumer demand. As a result of the market trends mentioned above, Moby Dik no longer meets the market requirements of a modern container terminal, given its absence of a railway access and insufficient vessel handling equipment. Nonetheless, Moby Dik remains a business unit of the Group that offers further opportunities in bulk handling and additional services. Moby Dik handled 118 thousand tonnes of bulk cargo in the first half of 2020 generating growth of 2.1x compared to the first half of 2019. In 2020, the Group continued its strategic focus on building a strong value proposition for its clients, while maintaining the competitive pricing levels, in order to take advantage of the opportunities offered by the developing market. Even though capacity utilisation continues to increase, competition in the industry remains strong. In addition, the growth of containerised export, on the back of the decline in containerised import, is having a negative impact on the mix of prices and services provided by the group. When combined with the depreciation of the rouble and additional free storage days provided to the clients as a measure of their support in the challenging environment, the Group now expects a high single-digit to low double-digit decline in Revenue per TEU in 2020. Source: Global Ports Copyright (C) PortSEurope. All Rights Reserved. 2020.

Russia: Global Ports – terminal throughput Q2 2020

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Russia: Global Ports – terminal throughput Q2 2020

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New Caspian ferry line Turkmenbashi-Olya might finally launch

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