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Home Port News Global Ports publishes first quarter operational results

Global Ports publishes first quarter operational results

Global Ports has announced its operational results for the first quarter of 2024, during which the Russian container market experienced a notable growth of 17.7%, reaching 1,293,000 TEUs.

The Baltic basin witnessed a rapid recovery, with container throughput nearly doubling to 409,000 TEUs in Q1 2024. As a result, the Baltic basin's share in the total Russian market surged to 32% from 19% a year earlier.

Additionally, container throughput in the Black Sea basin rose by 6.8% over the past quarter. This growth in the Baltic and Black Sea basins partly offset the decline observed in the Far East Basin, where container throughput dipped by 3.5%. Consequently, the Far East basin's share in the total Russian market decreased to 44% in Q1 2024 from 53% in the previous year.

Global Ports' consolidated container throughput at marine terminals surged to 297,000 TEUs in Q1 2024, marking a robust increase of 12.4% quarter-on-quarter and an impressive 59.4% year-on-year.

Also, in Q1 2024, container throughput at Global Ports' terminals in the Baltics soared to 155,000 TEU, representing a remarkable 10.2-fold increase year-on-year and a substantial 23.7% quarter-on-quarter surge. Conversely, due to declining volumes in the Far East basin, Global Ports' terminal in that region experienced a 16.9% decrease in container throughput.

Furthermore, the Holding continued its successful expansion in non-containerized cargo throughput. In Q1 2024, the consolidated bulk cargo throughput of Global Ports' marine terminals witnessed a robust growth of 38.3%, reaching 1.8 million tons.

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