Global Ports announces Q3 and 9M 2023 operational results

The Group's Q3 container volume rose 16.0% quarter-on-quarter  

Global Ports Investments PLC (“Global Ports” or the “Company” and, together with its subsidiaries and joint ventures, the “Group”) announced its operational results for July-Sept and Jan-Sept of 2023. On the back of ongoing gradual recovery of direct vessel calls at the Baltics and continuing strong demand in both Far Eastern and Southern basins, Russian container market grew in Q3 2023 by 37.2% y-o-y resulting in 9M 2023 increase of 13.4% y-o-y, the Group said in its news release.

The market was broadly flat in Q3 2023 compared to Q2 2023 (-0.4% q-o-q). Total marine container throughput of Russian ports amounted to 1.19 million TEU in Q3 2023 compared to 0.87 million TEU in Q3 2022.

Overall, the Group’s Consolidated Marine container throughput amounted to 241 thousand TEU in Q3 2023, an increase of 16.0% q-o-q and growth of 19.4% y-o-y, compared to the q-o-q broadly unchanged market (decline of 0.4%) and y-o-y growth of 37.2%.

Marine container throughput at the Group’s terminals in the Baltics increased in Q3 2023 to 84.9 thousand TEU, a 4.5x growth compared to Q3 2022 and growth of 41.8% compared to Q2 2023. However the 9M 2023 marine container throughput of the Group’s terminals in Baltics remained significantly below 9M 2022 volumes (-55.4%) given strong volumes of Q1 2022.

The Group increased its marine bulk throughput in Q3 2023 by 50.5% y-o-y to 1.8 million tons and, for 9M 2023, by 89.9% y-o-y to 4.8 million tons as a result of successful efforts to increase utilization rate of temporary available container facilities at the terminals in the Russian Baltics.