In the first three months of 2025, the terminals at the Freeport of Ventspils processed 2.38 million tons of cargo, a 1.5% increase compared to the first quarter of 2024, according to the company's release.
The volume of oil products and ferry-transported cargo rose, while coal volumes declined significantly.
Igors Udodovs, Deputy CEO of the Freeport of Ventspils, stated: “The conditions in which the port terminals currently have to operate are very difficult. The possibility of attracting cargo is directly affected by geopolitical circumstances, sanctions, and economic instabilities in the markets. We are pleased that the terminals have managed to stabilize the condition and stem the decline. Simultaneously, we are working on moving towards the concept of an energy port with a strong emphasis on renewable energy resources in the broad sense of the word, along with servicing Latvian and Baltic exports and imports.”
Oil products accounted for the largest cargo volume at 1.3 million tons, with a 79% increase compared to the previous year. Ferry cargo on the Latvia-Sweden route grew by 22%, reflecting stabilization in the Scandinavian market. Coal cargo saw the largest decrease, dropping by 213 thousand tons or 46.5%, partly due to EU sanctions on manganese ore, which affected shared transport logistics. Other cargo handled included wood products (pellets, chips, timber), agricultural goods (biodiesel, palm and sunflower oils, cereals, malt, rapeseed pellets, bran pellets, peas), liquid chemicals, peat, and additional commodities.
The Freeport of Ventspils is Latvia’s second-largest port by cargo volume and a major industrial hub. In 2024, Ventspils ranked third among Latvia’s largest cities for production volume and led in per capita production and export.