• Home
  • News
  • Port of Riga could start servicing capesize vessels next year
  • 2020 October 8 10:59

    Port of Riga could start servicing capesize vessels next year

    The Freeport of Riga Authority says it has started the navigation canal cleaning project to accommodate capesize vessels (load capacity above 150,000 tons) at the Port of Riga already in the near future. Vessels of such size are not currently serviced in ports situated on the east coast of the Baltic Sea and therefore this is an opportunity that would bring substantial market advantages for the City of Riga not only compared to the ports of the Baltic States, but also the ports of Russia.

    “Globally, even larger vessels are used for cargo transportation by sea. The aim of carriers to reduce transportation costs is the main cause for the continuously increasing dimensions of vessels. This is especially important for bulk cargo, for example, in the segment of coal and metal ore where the use of larger vessels ensures a more economical freight rate per each transported ton. The ability to accommodate the large capesize class vessels would facilitate access to new cargoes and more distant markets compared to the current options while using Panamax vessels, thereby also contributing to increased cargo turnover,” said Ansis Zeltiņš, CEO of the Freeport of Riga Authority.

    Due to the large dimensions and draught capesize vessels can be accommodated only by the largest deep-sea ports and specially equipped terminals. Modern land-based infrastructure is currently available at the Port of Riga to accommodate large bulk carriers, whereas to ensure safe accommodation of capesize vessels it is necessary to clean the main navigation canal near the port access gate and the navigation canal opposite to Krievu Island.

    Based on the information summarised by the Freeport of Riga Authority and port merchants, in 2019, more than 30 million tons of coal were shipped out with Panamax vessels from ports situated on the east coast of the Baltic Sea to markets outside Europe, e.g., Asia, South America, and the Middle East which already are servicing capesize vessels. With the capacity to accommodate such vessels in Riga, the Port could compete for a part of such cargo volume.

    The load capacity of capesize vessels is above 150,000 tons. Vessels of such size are currently used mostly for the purpose of transporting coal and various metal ores. The name of the vessel derives from the word ‘cape’, i.e., ‘headland’. Large vessels were named capesize vessels because they were too large to pass through the Suez Canal or Panama Canal. These vessels had to pass either the Cape of Good Hope or Cape Horn to traverse between oceans.




2021 October 20

18:51 Intellian and Inmarsat launch industry’s newest FleetBroadband terminals
18:31 Oceangate’s 2021 titanic survey expedition connected by Inmarsat satellite communications
18:11 P&O Ferries launches comprehensive Customs Clearance Service
17:46 Kongsberg launches new Kognifai Marketplace
17:06 Rolls-Royce plans to partner the Indian Navy for its ‘Fleet of the Future’
16:35 MAN Energy Solutions signs MoU with Mitsui E&S and Mitsui O.S.K.
16:23 “K” LINE successfully separates and captures CO2 from exhaust gas in world’s first CO2 capture plant on vessel
16:02 Seanergy Maritime announces acquisition of its 17th Capesize vessel
15:44 Rates for container transportation expected to decrease in 2022
15:25 ENI and Fincantieri sign an agreement for initiatives to support the energy transition
15:02 Wärtsilä and Solvang to collaborate on retrofitting carbon capture and storage system on Clipper Eos
14:20 Port of Rotterdam appoints Allard Castelein for a third term
13:52 Kawasaki Heavy Industries announces delivery of bulk carrier BBG GUILIN
13:20 Port of Oakland sees no backlog on docks, calls for cargo
12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products
12:02 Global Ports terminal In Helsinki increases number of container services
11:54 Port Houston container volumes up 11% to 281,500 TEUs in September 2021
11:40 Sibanthracite Group acknowledged as best supplier of coal to China for second consecutive year
11:16 MPA and DMU signed MoU to drive talent and academic exchange in the maritime sector
10:51 Mitsubishi Shipbuilding successfully separates and captures CO2 from exhaust gas in world’s first marine-based CO2 capture system project
10:28 Modernization of border checkpoint completed in Kavkaz seaport
10:06 RF President gives instructions on permanent environmental monitoring in areas of handling dry bulk cargo and cargo emitting dust
09:45 MABUX: No firm price trend on Bunker market on Oct 20
09:35 Crude oil prices decrease on US reserves growth
09:19 Baltic Dry Index as of October 19

2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress
16:04 Empire Offshore Wind selects Vestas as its preferred supplier for wind turbine generators for Empire Wind I and Empire Wind II
15:41 The decarbonization strategy likely is now the best business strategy for shipowners - ABS
15:13 Bollinger celebrates commissioning of 45th Fast Response Cutter USCGC Emlen Tunnel
14:51 RF Government and Rosatom instructed to organize regular transportation of transit cargo by NSR
14:30 Port of Rotterdam throughput rises substantially again in Q3 2021
14:03 Valenciaport throughput up 8.33% to 63.46 mln tonnes in Jan-Sept 2021
14:02 Ice restrictions in Port of Sabetta basin to be effective as of Oct 25
13:39 TGE Marine announces the successful gas trail of LNG bunker vessel ´Dmitry Mendeleev´
13:08 Port of Antwerp throughput up by 4.8% to 179.1% mln tonnes in Jan-Sept 2021
12:54 Cargo traffic via Khabarovsk Territory ports rose by 3% in 9M’21
12:33 Vitol’s V-Bunkers receives green ship awards from Maritime Port Authority of Singapore
12:15 The Methanol Institute welcomes the European Union’s package of proposals Fit for 55
11:36 Volga Shipping announces completion of three tankers conversion project
10:46 MABUX: Bunker prices may demonstrate multidirectional changes on Oct 19
10:11 Russian Gas Society supports 5th LNG Fleet, LNG Bunkering and Alternatives conference
10:09 Berenberg expands debt fund portfolio with two new multi-investor funds
09:46 Baltic Dry Index as of October 18
09:25 Crude oil prices rise on crisis anticipation
09:13 Roxtec selects Sustainable Marine Fuels

2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker