• 2020 July 16 10:31

    Consolidated marine container throughput of Global Ports increased by 8.4%

    Consolidated marine bulk throughput in 1H20 increased by 12% y-o-y

    Global Ports Investments PLC today announces its operational results for H1 and Q2 2020.

    The Russian container market declined by 6.1% in 2Q 2020, compared to 2Q 2019, resulting in a 2.4% decline in 1H 2020 vs. 1H 2019, as growth of containerised export (y-o-y growth of 1.6% and 7.5% in 2Q20 and 1H20 respectively) was not sufficient to offset the decline of containerised import (y-o-y decline of 11.8% and 6.6% in 2Q20 and 1H20 respectively), as a result of the global and local macroeconomic impact of the COVID-19 outbreak.

    The Group continued to outperform the market, with Consolidated marine container throughput up 5.5% to 380 thousand TEU in 2Q20, versus a 6.1% decline in the Russian container market over the same period. In addition, 1H20 Consolidated marine container throughput increased by 8.4% to 774 thousand TEU against the container market decline of 2.4% over the same period.

    As a result of the Group’s efforts to increase productivity and customer service standards, the Group outperformed the market in both key basins where its terminals are located. Consolidated marine container throughput of the Group’s terminals located in the Baltic Basin increased by 1.4% in 2Q20 against a market decline of 16.2% in the same region, while Consolidated marine container throughput of the Group’s terminal located in the Far Eastern Basin increased by 17.0% in 2Q20 against a market growth of 9.2%.

    Consolidated marine bulk throughput increased by 2% y-o-y to 1.17 million tonnes in 2Q20, with 1H20 growth of 12% y-o-y as coal handling at ULCT was in the early ramp-up stage in 1Q 2019 resulting in elevated y-o-y growth rates in 1Q20.

    Car and high and heavy Ro-ro handling declined by 48% and 9% respectively y-o-y in 2Q20, reflecting the slowdown in Russian consumer demand.

    The rapid growth of containerised export has shifted the market towards an import-export balance, that increases market resilience and limits volatility — both trends were clearly seen in 1H2020 when the market demonstrated more steadiness than in 2009 and 2015. However, in 2Q20 we saw a decline in full container import and decelerating growth rates in full export on the back of the global and local macroeconomic turmoil following COVID-19 outbreak. We expect high volatility and this challenging environment to continue in 2H20 with low visibility of trends.

    The growth of containerised export, on the back of the decline in containerised import, is having a negative impact on the mix of prices and services provided by the Group. When combined with the depreciation of the rouble, the Group now expects a high single-digit to low double-digit decline in revenue per TEU in 2020.

    The Group remains focused on improving the quality of our services across every aspect of our activity.


    Q2
    2020

    Q2
    2019

    Change

    H1
    2020

    H1
    2019

    Change

    Abs

    %

    Abs

    %

    Global Ports Consolidated Results

    Consolidated Marine
    Container Throughput
    (kTEU)

    380

    360

    20

    6%

    774

    714

    60

    8%

    FCT

    151

    158

    -8

    -5%

    322

    320

    1

    0%

    PLP

    105

    92

    13

    14%

    213

    168

    44

    26%

    VSC

    112

    96

    16

    17%

    213

    197

    16

    8%

    ULCT

    13

    14

    -2

    -12%

    27

    29

    -2

    -8%

    Non-containerised cargo

    Ro-ro (thousand units)

    5

    5

    0

    -9%

    9

    10

    -1

    -8%

    Cars (thousand units)

    16

    30

    -14

    -48%

    34

    55

    -22

    -39%

    Bulk cargo (thousand tonnes)

    1 169

    1 144

    25

    2%

    2 197

    1 963

    234

    12%

    Joint ventures

    Containerised cargo, kTEU

    Finnish Ports

    26

    29

    -3

    -11%

    51

    56

    -5

    -10%

    Yanino (inland terminal)

    22

    34

    -12

    -35%

    46

    62

    -17

    -27%

    Bulk cargo throughput,
    thousand tonnes

    Moby Dik

    62

    39

    23

    58%

    118

    57

    61

    106%

    Yanino

    64

    118

    -54

    -46%

    142

    218

    -76

    -35%

    Russian Container Market, kTEU

    Total Market

    1 219

    1 298

    -79

    -6.1%

    2 481

    2 543

    -62

    -2.4%

    Baltics (incl. Kaliningrad)

    582

    696

    -113

    -16.3%

    1 217

    1 340

    -123

    -9.2%

    Northern Ports

    34

    33

    1

    1.8%

    73

    71

    1

    1.8%

    South

    193

    194

    -1

    -0.7%

    416

    405

    12

    2.9%

    Far East

    410

    376

    35

    9.2%

    775

    727

    48

    6.6%

    Related link:

    Albert Likholet appointed as CEO of Global Ports >>>>




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