• 2024 May 3 10:00

    Russian seaports in Q1, 2024: Infographics and Analytics

    The joint information product was contributed by IAA PortNews and the Institute of Natural Monopolies Research (IPEM)

    Cargo volume handled at Russian ports in the first quarter of 2024 fell by 3.1% on the same period 2023. The decrease is observed for the second quarter in a row, the review showed.

    The most noticeable decline was in the segment of oil products (-16.2%). Fuel exports decline is contributed to a seasonal growth in domestic consumption against the backdrop of output limitation caused by repair work at a number of refineries.

    A significant decline also was registered in coal volume (-15.2% on Q1, 2023). The main factor restraining coal exports was railway infrastructure carrying capacity. An additional limiting factor was the fall in global prices during 2023 (along with the resumption of export duties as from March 2024), making some transport routes unprofitable for coal exports. At the same time, the decision of the Russian government to abolish the duty on the export of thermal coal and anthracite for the period from May 1 to August 31, 2024 should support domestic coal exporters.

    There was still a decline in volumes of ferrous metals (-5.2%) and ores (-4.4%). At the end of the first quarter, a slight increase was aslo recorded in handling crude oil (+0.7%) and liquefied gases: +0.7% and +4.6%, accordingly.

    A significant growth was seen in the segments of containerized cargo (+11.9%), grain (+14.5%) and fertilizers (+37.9%). Increased shipments from the Baltic terminals, namely Cryogas-Vysotsk and Gazprom LNG Portovaya ensured the liquefied gases volume growth. The increase in grain exports was positively influenced by the expansion of export quotas. A significant gain in fertilizer volumes is contributed to the development of terminals in the Baltic water basin (Ultramar, Bronka, and St. Petersburg based terminals), and thanks to the Belarusian fertilizer export volume.

    Among the basins, throughput growth was observed only in the Caspian Sea (+40.4%), which is associated with grain exports increase.

    There was a slight decline (-1.6%) in the Baltic basin, since the oil products drop was offset by an increase largely in fertilizer shipments. A decrease in volumes was observed in the Far Eastern (-4.8%) and Azov-Black Sea (-3.5%) basins (mainly due to a decline in coal supplies), as well as in the Arctic basin (-4.3%), primarily due to a drop in the transportation of coal and crude oil on the longest routes.

    Container throughput (in TEUs) increased in January-March 2024 by 16.9%. A recovery of container traffic continued in the Baltic basin ports (+97.4%) with a sustainable growth seen in the Azov-Black Sea basin (+7.3%), while container volume in the Far Eastern, Arctic and Caspian basins, on the contrary decreased: -3.5%, -6.6% and -33.2%, respectively.

    Infographics is available here >>>>

    When using the review materials, reference to the joint project of IPEM and PortNews is required.




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