• 2015 February 16 10:56

    Freeport of Riga boasts continious cargo turnover growth

    During the past year the Freeport of Riga has reached the unprecedented volume of cargo handling – a threshold of 41 million tons (+ 15.8%) was exceeded, which is the largest amount ever handled during the year by one of the Latvian ports, says Freeport of Riga Authority. This year's first month results show that the growth trend continues - 3.5 million tons were handled in January, which is by 8.3% more than in January 2014.

    3872 vessels called the Freeport of Riga in 2014, including 3797 commercial vessels. Although the total number of vessels compared with the year 2013 slightly decreased (-1.4%), the total gross tonnage of vessels increased and reached 48.3 million GT (+ 2.3%). The most significant increase was registered in the average tanker GT indicator (+ 16%). If in previous years, a tanker with a gross tonnage of more than 40 000GT called the port only 2-3 times a year, 27 calls of such vessels were registered in 2014. The average GT of dry bulk carriers, calling the port, also increased (+ 14%), which to some extent compensates a reduction in the number of vessels in the relevant vessel group. Similarly, the average GT of cruise ships visiting the port has increased (+ 5%). Container carrier lines, operating at the Freeport of Riga, used to employ vessels with larger GT (+ 10% to the average GT indicator) in 2014. All this confirms the fact that the cargo owners continue to optimize transport costs and try to use larger vessels where possible. And it is evident that the port of Riga has to urgently implement fairway dredging project and build additional deep-water berths.

    Due to constantly increasing volume of dry bulk cargo the port of Riga has become a major player in the dry bulk cargo segment, not only among the Baltic States’ ports, occupying a leading position, but in the entire Baltic region. The volume of cargo, handled during the first month of the current year, proves that Riga is strengthening its position in the dry bulk segment. 2.05 million tons were handled in January, which is by 19.3% more than in the beginning of 2014.

    Traditionally, coal shipments constitute the greatest amount of cargo and provide dynamic growth. 1.3 million tons were handled in January, which is by 18.7% more than in the last year's reporting period. “To a large extent an increase in coal cargo can be attributed to Russia's political and economic situation. In its attempts to stabilize the country's financial flows Russia is increasingly producing and exporting different types of energy resources, including coal and oil products. Assuming that the stabilization of the Russian economy will take a long time and that the cargo owners have chosen to transship their cargo via the port of Riga, there is no reason to believe, that coal cargo volumes could shrink in the near future. Of course, there is always the possibility that various political decisions might lead to substantial changes in the maritime transport system. Our investments in the port infrastructure and the fairway dredging pay off - we see that cargo owners are increasingly choosing exactly the port of Riga,” explains Mr. Andris Ameriks, the Board Chairman of the Freeport of Riga Board.

    The second most important group of cargo, which has increasingly bigger share in the total Riga port cargo structure, is mineral fertilizers. The new terminal capacity is being used more fully and this is confirmed by the fact that mineral fertilizers’ handling volume increased by 79.6%, compared to January of the last year, and reached nearly 254 thousand tons per month.

    Unspecified cargo group also experienced a substantial growth (+ 43.5%), and the amount of handled cargo has reached 252 thousand tons. Transshipment of all cargo positions increased in the framework of the relevant group.

    At the same there is a decline in grain products’ handling, there are by 60.2% less ore cargoes; volumes of such cargo as lumber, wood chips, different metals and ferro-alloy have decreased.

    Despite 11.3% increase in container shipping, the average volume of cargo, handled in the framework of general segment in January this year, remains almost at the same level as at the beginning of the previous one –i.e.522 thousand tons. There is a slight increase (+ 1.6%) in timber shipping. The most significant decrease occurred in Roll on/ roll off cargo group (-51.8%). This is directly related to reduction of the Tallink ferry regular voyages. There is a certain decrease of various metals and food cargo volumes, but due to the fact that these types of cargo play insignificant role in the total structure of the port operation, there is no major impact on total port cargo volume.

    There is a decrease by 6.3% in liquid bulk cargo volume this January compared with the last year's first month. In January 2015 930 thousand tons have been handled. It should be noted that in last January liquid cargo segment demonstrated very good results, exceeding the volume of January 2013 by 56.3%, and reaching 992 thousand tons, but later the average monthly amount has become stable and volume of the first month of this year is equivalent to the average liquid cargo amount of 2014.

    Logically, the reduced number of scheduled flights resulted in a decrease in the number of passengers (-40.6%).

2024 July 22

18:06 Manzhouli railway port handles 2,327 China-Europe freight train trips in 1st half of 2024
17:36 NORDEN to acquire Norlat Shipping to further grow projects and parcelling activities
17:23 2024 is expected to be a record year for cruises in the port of Heraklion
16:47 ABS and the U.S. Coast Guard Research and Development Center to collaborate on maritime technologies
15:56 Trafigura Group takes full ownership of High Heat Tankers
15:46 China delivers world’s first river-sea LNG bunker and transport vessel
14:51 Hartmann receives new LNG-powered LEG carrier
14:14 Jiangnan Shipyard supplies dual-fuel VLEC gas Huanghe
13:44 ABL to support offshore installation of French-Spanish interconnector
12:53 Hanwha Ocean gets deal to join potential projects on repair of U.S. warships
12:35 Ro-Pax vessel collides with 7 cargo boats in Dhubri, India
11:42 One crew member dies in fire on Maersk-chartered container ship
10:58 Founder of Sea Shepherd arrested in Greenland
09:40 Fire-hit tanker enters Malaysia terminal area after being detained by coast guard

2024 July 21

17:39 Global IT outage disrupts operations at European box terminals
17:29 RWE secures its first offshore wind site in Australia with a capacity of up to 2 gigawatts
11:32 KBR secures advisory role for Kuwait’s renewables and hydrogen project
09:57 WSF selects ABB as propulsion single source vendor for five new hybrid ferries

2024 July 20

16:11 First hybrid ship launched at Kanellos Shipyards in Perama
14:21 DOF Group awarded multiple contracts in Brazil
12:18 HD Hyundai Heavy Industries union initiates strike procedures
10:06 Asyad Group looks to buy or operate ports in southeast Asia

2024 July 19

18:00 Global Centre for Maritime Decarbonisation concludes biofuels supply chain trials
17:10 Four Greek ports receive €10 million in CEF funds
16:47 Rauma shipyard launches the second passenger-car ferry ordered for Tasmania
16:25 MOL to invest in Carnot, a developer of technology for highly efficient engines
15:48 ABS and KRISO to advance SMR-powered vessels and floating power generation platforms
15:31 Ports of Indiana, Port of Antwerp-Bruges sign MoU
14:59 Fratelli Cosulich holds a steel cutting ceremony for the new vessel "Marta Cosulich" at Taizhou Maple Leaf Shipbuilding
14:13 Suez Canal reports 23.4% drop in annual revenue due to Red Sea crisis
13:42 Dual fuel standby vessels begin operations in Hong Kong
13:08 Bluferries, C.T.E. Perdikaris Engineering, Architectural & Technical Services and RINA announce the launch of a hybrid Ro-Ro passenger ship
12:30 DP World and Evyap Group forge new logistics hub to boost Turkish trade
12:11 Sempra Infrastructure announces EPC contract with Bechtel for Port Arthur LNG Phase 2
11:40 Two oil tankers on fire off Singapore, crew rescued
11:20 World Bank Group releases report on offshore wind development scenarios for Brazil based on analysis by DNV
10:42 FPSO Bacalhau receives AiP for abate notation from classification society DNV
10:19 Port Houston approved for cold treatment
09:55 Fujairah’s fuel oil inventories rise 5% this month

2024 July 18

18:00 South Korea slaps sanctions on Hong Kong shipping firm
17:31 IBIA seeks change to CII regulation for bunker vessels
17:06 Rem Offshore and VARD sign contract for CSOV
16:31 EU to invest record €7 billion in transport infrastructure
16:02 Port of Antwerp-Bruges throughput up 3% to 143.2 million tonnes in H1 2024
15:47 Port of Rotterdam posts cargo throughput of 220 million tonnes in first half 2024
15:30 Port of Oakland full imports rises 26.8% to 84,040 TEUs in June 2024
14:43 MSC increase own-operated service share
14:13 GTT receives an order from Dalian Shipbuilding for the tank design of two new LNG carriers
13:37 NYK acquires multiple segments of ENEOS Ocean’s shipping business
13:01 Bunker price trends in the world's four largest hubs, July 15-29 – MABUX
12:42 ITOCHU, Nihon Shipyard, ClassNK and MPA, signed MOU for joint study of ammonia fueled bulk carriers
12:12 KENC Engineering awarded with jacket seafastening scope
11:30 CMA CGM enters into a strategic partnership with Google
11:03 Port of Los Angeles container volume increases 10% to 827,757 TEU in June 2024
10:53 The Government of Canada invests in marine industry’s transition to green ship technology
10:13 Scottish Government to purchase seven new ferries
09:19 Damen signs four vessel contract with Toyota Tsusho for Angolan port development project

2024 July 17

18:05 Peninsula completes LNG bunkering for ‘K’ LINE in Gibraltar
17:36 Yangzijiang to invest $412 million in shipyard expansion
17:06 Singapore's non-oil domestic exports down 8.7% in June 2024
16:42 Damen starts steel cutting on new hybrid island class vessels for BC Ferries
16:23 Mabanaft submits permit-related approval documents for planned construction of ammonia import terminal in Hamburg
15:54 Helsinki, Tallinn ports get €15m EU funding
15:24 LNG carrier completes Arctic voyage to China in 18 days
14:45 Salvage team to start pumping fuel from grounded vessel on South African coast
14:23 Fertiglobe wins first H2Global pilot auction for renewable ammonia
13:54 Maersk says Red Sea shipping disruption having global effects
13:39 Average spot rates from the Far East to US East Coast increased by 3.7% - Xeneta
11:30 NYK completes world's first truck-to-ship ammonia bunkering of ammonia-fueled tugboat
10:52 CEVA Logistics, Almajdouie Logistics sign JV in Saudi Arabia