Port of Riga said October was the most successful month of the year in regards of cargo turnover, as well as the most successful October in the port’s history.
The monthly cargo turnover at the port reached 3.54 million tons, up by 18% MoM and by 7% YoY. The largest contribution to the growth of cargo turnover in October has been provided by a record high volume of coal handled at the Port of Riga. Monthly amount of handled coal has reached 1.5 million tons, which is the largest monthly volume of handled coal in the Port of Riga history. Coal cargo turnover has increased significantly at all Riga port coal terminals.
In October the largest monthly volume of handled container cargo – 415.5 thousand tons – was registered, which is the highest monthly figure in the history of the Riga port. Total amount of cargo, transshipped at the port during ten months, has reached 30.4 million tons of different cargo types. Due to the excellent October, the overall decline in cargo turnover in comparison with the corresponding period of the last year decreased by 8.8%.
Within ten months 18 million tons of various cargo was handled in dry bulk segment. The Port of Riga handled 10.6 million tons of coal, down by 12.2% YoY, but the difference has significantly decreased. At the beginning of October the coal cargo drop, compared with the previous year, has been 17.1%. The significant increase in coal cargo at Riga port can be attributed to the increased coal demand in Europe since the beginning of the cold season, the sharp rise in coal prices on the European markets and the growing Russian coal exports. Compared to the last year’s ten months cargo volumes of grain products, metal ore, fertilizers, peat, building materials and various metals have also increased in the dry bulk segment.
The total turnover of general cargo at the Port of Riga within ten months has increased by 2.8% YoY. An increase in general cargo segment can be attributed to the growing container handling indicator. 314.3 thousand TEU (3.3 million tons) of containerized cargo were handled at the port, up by 6.5% YoY. Container turnover increase is a very positive trend for both the Freeport of Riga and the Latvian transport and logistics industry. General cargo segment is also experiencing growth of ro-ro, cereals, metals, fish products and chemical general cargo.
Oil product transshipment volumes and, hence, the total liquid cargo turnover at Riga port remains relatively low. During ten months of 2016, the port has transshipped 7.1 million tons of liquid cargo, down by 20.7% YoY.
Ten months of 2016 were successful for the port of Riga as regards the passenger service. 496 thousand ferry and cruise passengers were welcomed at the port, up by 7.1% YoY. 2016 cruise season in Riga ended in October with the following results – 62 cruise vessels and 70 000 cruise passengers, up by 3.4% YoY. (Portnews/Business World Magazine)
