The version for the print

  • 2022 February 4

    Rosmorport curtails its development programme

    FSUE Rosmorport’s Long-term Development Programme (LDP) until 2030 has been revised following the related discussion with the Consumer Council. In the near time it can be forwarded to the Government of the Russian Federation. In 2022-2024, FSUE Rosmorport will invest over RUB 15 billion of revenues from investment dues collected from the beginning of 2021 in construction and reconstruction of sea terminals. Total expenses under the investment programme are estimated at RUB 25.9 billion which makes about one third of expenses on hydraulic engineering facilities over the previous three-year period. 

    According to LDP (IAA PortNews has a copy of the document), throughput of Russian seaports is forecasted to make 1.12 billion tonnes by 2030, or 1.59 billion tonnes if the market situation improves. Turnover of dry bulk cargo, grain, LNG and containerized cargo is expected to increase. In 2021, seaports of the Russian Federation handled 835.2 million tonnes (+1.7%, year-on-year). 

    Experts say the growth by 2030 will be ensured by the Baltic Basin ports (+103.6 million tonnes versus the result of 2020) due to redirection of cargo flows from the ports of the Baltic States and by the Far East Basin ports (+83 million tonnes). Throughput of the Arctic Basin ports is expected to raise by 68.2 million tonnes, Azov-Black Sea Basin ports – by 48.7 million tonnes. 

    LDP data show that shortage of facilities can make 216.5 million tonnes by 2030. The lack of dry bulk handling facilities in the Arctic and the North-West Basins is estimated at 73.6 million tonnes, in the Far East Basin – at 21.9 million tonnes. In the segment of grain, the deficit of handling facilities in Russian ports will make 11.3 million tonnes. The capacity of LNG handling facilities in the Arctic and the Far East basins will be 45.4 million tonnes less then required. Meanwhile there is an excess of container terminals in the ports of the North-West and the Azov-Black Sea basins (a total of 18.2 million tonnes) and liquid bulk cargo terminals (98.5 million tonnes). 

    The document refers to experts saying that completion of all projects foreseen by the programme (a total of 43 projects) will close the deficit in most segments and on most directions except for coal handling in the Far East Basin. 

    Financing of construction and reconstruction of hydraulic engineering facilities (the bulk of expenses) under the investment programme for 2022-2024 exceeds RUB 25.9 billion with 60% of that amount to be covered by port dues for investment purposes (IPD). The demand for IPD in the three-year period is as high as RUB 15.9 billion. Notably, financing of hydraulic engineering facilities in 2021-2023 was estimated at RUB 75 billion, three times as much as the amount foreseen for the current three-year period. IAA PortNews has directed an inquiry on the reasons behind the negative dynamics to FSUE Rosmorport. 

    Port dues for investment purposes were introduced amid a sharp and long weakening of ruble against the key currency of foreign trade activities (foreign going vessel account for 90% of ship calls to sea ports). 

    The most costly project in the updated list will be that on construction of multipurpose terminal Novotrans in Ust-Luga. Rosmorport’s investments into the project are estimated at RUB 8 billion and they are to be covered by IPD. Another costly project is reconstruction of berths operated by Murmansk Commercial seaport JSC (a company of NTC, RUB 5.3 billion) and construction of Sea Terminal “Tuloma” (investor – Infotek Baltika JSC, RUB 686.3 million). Among other projects are reconstruction of grain terminal of Demetra Holding at the port of Novorossiysk and construction of hydraulic engineering facilities following Maly Port LLC (SUEK asset) at Vostochny port. 

    Other activities financed by FSUE Rosmorport include reconstruction of hydraulic engineering facilities at cruise and freight/passenger terminal in Pionersky, berths of GlobalPorts’ First Container Terminal in Great Port of Saint-Petersburg, oil pier and berth of Makhachkala Commercial Seaport, berth of Magadan Commercial Seaport PJSC. 

    Experts emphasize that LDP does not take into account the plans of stevedores and Russian Railways on expansion of cargo throughput in the Far East Basin including container throughput increase panned by Rosatom while they consider the cargo base at the ports of Ust-Luga and Primorsk to be overestimated. 

    More industry-related content is available on our social media pages:  FaceBook, YouTube, Telegram, Twitter, Yandex Zen

Author

Yana Wojciechowska

editor@portnews.ru
Другие новости по темам: HES, Rosmorport  


 All relevant topics...