Global Ports Investments PLC said Friday that the overall Russian container market grew by 13% to 1.38 million TEU in the second quarter of 2021, and that market growth concentrated in the far eastern basin, as well as the southern basin.
A TEU, or 20-foot equivalent unit, is used world-wide as the uniform measure of container capacity.
The Russia-focused, U.K.-listed port operator said that market growth at its far eastern terminals during the period rose more than 18% year-on-year, and more than 11% year-on-year at its southern basin.
The company said that due to strong market growth in the far east, it will gradually cease coal handling at its Vostochnaya Stevedoring Co.–which is located on Russia’s Pacific coast at Vostochny–and concentrate on its core strategic operations of driving container volumes. The company said this will allow it to decrease its environmental impact from the third quarter.
The company said that consolidated marine container throughput for the second quarter rose 10% year-on-year to 418,000 TEUs. For the first half it rose 1.9% year-on-year to 789,000 TEUs, the company said.
The company said year-on-year heavy roll on-roll off handling recovered in the period and grew 56%, with car handling growing 66%.
Source: Dow Jones