• 2020 January 9 15:33

    Port of Riga reviews decade of growth and development

    As a new decade approaches, the Freeport of Riga Authority offers a summary of the most significant last decade’s events at the Port of Riga that contributed to its growth and ability not only to maintain, but also to strengthen its leading position in the Baltic region irrespective of the fierce competition. During this time, the Port Police was established, and its fleet was increased by incorporating several new pilot ships, ice class tugboats and an icebreaker. Furthermore, its shipping channel was deepened and widened allowing to service larger vessels and cruise liners.

    “We also managed to complete the largest and most important investment and infrastructure development project not only during the last decade, but also in the entire history of the port: construction of terminals at Krievu sala. Thanks to co-financing from the Cohesion Funds, all coal handling operations were transferred from the historic centre of Riga to newly constructed state-of-the-art and environmentally friendly bulk handling terminals at Krievu sala”, says the statement.

    During the previous decade, port operators also made significant contribution to the development of infrastructure and overall competitiveness at the Port of Riga. In 2013, a terminal for bulk fertilizers and short-term storage was opened: Riga Fertilizer Terminal. The total value of this project was more than 60 million euro.

    Moreover, Riga Bulk Terminal also invested tens of millions of euro in the development of a multi-functional and technologically intensive bulk cargo handling terminal that is believed to be the most advanced not only in the Baltic States, but also in Europe. In 2017, Kundziņsala based TFS Trans logistics centre made impressive investment of more than 30 million euro in becoming the largest, most advanced and progressive terminal in the Baltic States and the second largest in Eastern Europe.

    At the Port of Riga, the previous decade was marked with rapid development of industry: several extremely successful and rapidly developing companies implemented high quality manufacturing projects with impressive production capacities. This period was very successful for RIKON JSC, a producer of portal cranes, which is one of the few companies that manufacture cranes for Northern ports which are suitable for operation in extremely low temperatures. These cranes are made of a special grade steel and are fully functional event at temperatures that reach as much as 60 degrees Celsius below zero. Furthermore, a company called Madesta has become one of the largest producers of various types of containers: during the past year their production volume reached 25 thousand tons. At the Port of Riga, it manufactures large metal structures for oil, gas and bulk goods storage tanks and silos.

    In 2014 and 2015, the Port of Riga had a record high cargo turnover: more than 40 million tons per year, allowing it to become the Baltic leader. Though this number has slightly decreased of late due to smaller volumes of coal and petroleum products, in 2018 it was still more than 36 million tons. The focus on new types of cargo and multi-functionality are the main factors that have allowed the port operators to successfully compete on the market and promptly respond to market changes.

    Over the last ten years, significant changes have also affected the structure of cargo handled at the port, and its portfolio has become much more diversified. Its infrastructure and services have allowed to handle many types of consignments. During the last decade, the turnover of cargo at the Port of Riga has increased by 8% annually reaching ever new heights. Furthermore, since 2010 the volume of cereals and cereal products handled at the port has increased by almost five times becoming a significant new business direction for the port.

    The Freeport of Riga is the largest port in Latvia. It is a multi-functional port with modern and safe infrastructure, where approximately 200 private operators, including 35 stevedore companies (cargo terminals), provide high quality services. At the same time the Freeport of Riga has been a strategic partner of NATO since 2009.

    The Freeport of Riga Authority (FRA) manages the port, takes responsibility for the development of port infrastructure, security at the port, and lease of port infrastructure and land to private operators. FRA is an executive body that implements decisions of the Freeport of Riga Authority concerning development. FRA does not take active part in conducting business at the port. Its revenue is generated by port charges from serviced vessels, as well as rental fees for land and berths. FRA operates as a non-profit organization: its funds are used only for the management and development of the port.




2020 February 25

18:06 Maritime world players gather in Antwerp for World Ports Conference 2020
17:51 Four new IBIA board members announced at AGM
17:30 ClassNK develops its Digital Grand Design 2030
17:18 Piraeus Bank enters into a strategic collaboration with ORIX Corporation to provide financing solutions to the Greek maritime sector
17:02 DNV GL awards MSC new container ship fire safety notation
16:36 Foreship scrubber enquiries surge as owners clear the air
15:59 Trust Management sells crude oil tanker FSL Shanghai
15:49 RF Navy’s Baltic Fleet starts preparing for "Sea Cup" competition
14:58 Gazprom Neft’s net profit exceeds RUB400 billion in 2019
14:33 World Bank presents results of its study on prospects for strengthening Ukraine’s port sector governance
14:05 Marakeb Technologies and Fincantieri sign MOU for unmanned technology collaboration
13:27 THE Alliance announces details of 2020 Middle East service network
12:42 Container Terminal Saint-Petersburg upgrades its fleet of production equipment
12:17 COSCO SHIPPING Lines maintains logistics chain for international trade
12:01 KSS Line adds one new VLGC model after four vessels in 2019
11:25 DP World acquires the largest multi-purpose deep-sea marine terminal on the West Coast of North America
11:16 PPA scores big in latest survey, continues to veer away from 'corruption' tag
10:43 World Maritime University signs MoU with Maritime Academy of Asia and the Pacific
10:15 Logistics specialist leases Newport Docks warehouse
10:14 CMA CGM announces PSS from Europe, Scandinavia, Black Sea & West Med to Reunion, Mauritius, Mayotte, Comoros, Seychelles & Madagascar
10:09 MABUX: Bunker market this morning, Feb 25
09:51 Throughput of port Shanghai (China) in Jan’20 fell by 13.2% to 41.75 million tonnes
09:30 Brent Crude futures price is up 0.3% to $55.94, Light Sweet Crude – up 0.39% to $51.63
09:12 Baltic Dry Index is up to 506 points

2020 February 24

16:43 MOL and DSME sign joint development agreement for environmental friendly FSRU technology
15:06 Wilhelmsen Group's fourth-generation owner Wilhelm Wilhelmsen dies
14:53 MABUX Digest: Top events on global bunker market. Week 08
12:54 Milaha participates in ‘Made in Qatar 2020’ Exhibition as a Gold Sponsor
10:45 MABUX: Bunker market this morning, Feb 24
10:11 DOF Subsea posts Q4 operating income of NOK 1,349 million

2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55