Global Ports reports severe container decline in 2022

Global Ports Investments PLC announced its operational results for the fourth quarter of 2022 and the full year of 2022.

In the previous year, the Group’s Consolidated Marine Container Throughput declined 37.1% year on year, to 992,000 TEUs.

The Russian port operator noted that container throughput in the far Eastern basin and at VSC, the company’s terminal in Far East, increased driven by a rebuilding of supply chains from European to Asian routes.

Container throughput at VSC increased in 2022 by 20.1% year on year to 624,000 TEUs posting a record volume in the terminal’s history driven by high demand in the region, according to Global Ports, as well as the group’s effort to increase the operational efficiency of the terminal and investments in its infrastructure and equipment.

On the back of a 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 a severe decline in the container and ro-ro throughput in the last quarter of 2022 and full year 2022.

At the same time, bulk throughput increased by 13.7% year on year to 3.6 million tons in 2022 as a result of the group’s efforts to use available container capacity and terminals’ infrastructure to attract non-container business.

Global Ports said the market outlook for 2023 remains uncertain.