Port of Riga cargo volume increases by 2.1% in Q1 2017
The Freeport of Riga finished the first quarter of 2017 with a positive balance - cargo volume increased by 2.1% compared to the last year. The month of March was also successful - the handled cargo volume was by 7.9% more than in March 2016. The increase is mainly attributed to the positive performance of coal, container and timber segments.
In the first quarter of 2017 3.5 million tons of coal were transshipped via Riga port, which is by 18.4% more than within the last year's respective period. According to the Freeport of Riga Authority’s market analysis data Russia's coal export flow through the Baltic Sea ports has significantly increased compared to the 1st quarter of 2016. Thus, the coal cargo volume has increased at both Russia's own ports and coal terminals of Riga port and at Ventspils port. Dry bulk segment demonstrated the positive quarterly figures also in grain, wood chips, sawn timber and metal cargo groups. The total volume of metal group bulk cargo – ore, scrap metal and ferroalloys - has increased by 32.8% compared to 2016. Thanks to a significant increase in lumber and wood chip cargo groups, the timber volume , transshipped by the port, has reached 1 million tons and increased by 3.3% compared to the last year.
In the first quarter of the current year there have been very positive developments in general cargo segment, where the last year’s cargo turnover index has been exceeded by 15.4%. The volume of containers, handled at the port, continues to grow. In the first three months of 2017, 110.4 thousand TEU of containers were transshipped through the port of Riga, which is the 1st quarter’ s highest figure over the Port of Riga history. Subsequently, March monthly indicator - 38 thousand TEU, is the month record of the Port of Riga in container cargo handling. Ro-ro cargo turnover of general cargo segment has also increased by 33.9%. This increase is largely attributed to the Tallink ferry line more intense activities during this year.
The first quarter of 2017 has been successful for the port of Riga in passenger service area. Predictions about the rapid increase in the number of passengers due to renewed operation of the second Tallink ferry have come true. During the first three months the Port of Riga has serviced 134 thousand passengers, which is by 22.6% more than during the respective period of the last year.
The Freeport of Riga is the largest port in Latvia. In 2016 cargo turnover volume amounted to 37 million tons. The Freeport of Riga is a multi-functional port with a modern and secure infrastructure, where high quality services are provided by 194 private enterprises operating at the port, including 35 stevedoring companies (cargo handling terminals).
The Freeport of Riga Authority (FPRA) manages the port, and is responsible for the maintenance of the port infrastructure, for the port security, as well as for the port land and infrastructure leasing to private enterprises. The FPRA is the executive body that implements the Freeport of Riga Board decisions on port development. The FPRA is not engaged in commercial activities at the port.
Its revenues consist of port dues, collected from the vessels, as well as of land and berth rent fees. The FPRA operates in compliance with the principles of non-profit organizations - its financial resources are spent only for the port management and development.