The Russian container market has remained broadly flat in 2020, despite the global and local impact of the Covid-19 crisis, according to Global Ports Investments PLC, the largest container terminal operator in Russia.
[s2If is_user_logged_in()]In particular, the total box throughput of Russian container terminals handled 5.053 million TEU during the last year, which translated to a modest 0.8% decline compared to 2019.
Global Ports explained that the growth in full containerised exports was the “key driver of such resilience” posting a 5.2% year-on-year growth in 2020, while full container imports declined slightly by 1.8% year-on-year.
“In 2020 the Russian container market demonstrated not only strong resilience but also its ability to adapt swiftly to upcoming challenges. In the course of 2020, the industry faced supply chain disruption, reshuffling of vessel calls, strong macro headwinds, and high foreign exchange volatility,” noted Albert Likholet, CEO of Global Ports Management.
He added, “We see this strong resilience as a clear sign that the Russian container market is becoming more efficient and progressively more advanced. However, in turn, this means more demanding requirements on container terminals, on standards of service, infrastructure capabilities, Information Technology and our focus on clients.”
Global Ports said it has outperformed the overall market in the last year with consolidated marine container throughput for the full year 2020 increasing by 6.6% to 1.533 million TEU, while the container market in the country decreased slightly by 0.8%.
“Our outperformance of the market in 2020 demonstrates that we are more than capable of meeting market expectations as they develop and remain on the right track in implementing our strategy,” commented Likholet.[/s2If]
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