Good for Business, Latvia, Port, Tourism, Transport

The Freeport of Riga Board Chairman Mr. Andris Ameriks stressed the particular importance of these results in the context of geopolitical developments: "We have proved that the Port of Riga is a safe business partner, that is able to change with the times. Economic benefits and cargo security have always been and are the main concerns of our clients – therefore our investment into the port infrastructure and client-oriented approach was justified."

Dry bulk cargo volume growth by 10%

Overall, 23.73 million tons were handled in the dry bulk segment in 2014 that is by 10% or 2.16 million tons more than during the previous reporting period.

Coal cargo retains leading position in the dry bulk segment. 14.94 million tons of coal were transshipped at Riga, which is by 6.4% more than in 2013. At the same time mineral fertilizers handling demonstrates the highest growth in this segment. After Riga Fertilizer Terminal was commissioned in the beginning of the year, the volume of mineral fertilizers has increased significantly – 2.55 million tons were handled in 2014, which is by 80% more than in 2013. Grain and grain product transshipment volumes doubled. Consequently, this cargo plays an increasingly prominent role in the total cargo structure, handled at the Freeport of Riga – this year grain product volume has reached nearly 770 000 tons. There is an increase of various metals (+16.2%) and metal scrap (+11.4%) transshipment as well.

There was also growth in unspecified dry bulk cargo group (+ 4.9%), reaching a turnover of almost 3 million tons. It should be noted, that the volume of wood chip pellets, included into the said group, increased by 27.9% and exceeded the amount of one million tons. Due to increase of pellet production and export, transshipment of woodchips has declined.

Containers dominate general cargo segment

Overall 7.07 million tons were handled in the general cargo segment, which is by 4.3% more than in 2013. Container transshipment has the dominant role – this year it has increased by 6.1% and reached 4.15 million tons. Timber shipping has remained at the previous reporting period level (+0.5%). It should be noted that the timber has an important role in the overall structure of the Freeport of Riga cargo – more than 2 million tons of this type of cargo were handled in 2014.

The volume of metal transshipment (general cargo segment) has doubled. Food cargo growth shall be assessed as a positive trend, although the said cargo has not been an important one for the Freeport. Due to development of cold storage infrastructure at the port terminals, food cargo volumes in Riga port are expected to grow. The volumes of chemical cargo and unspecified general cargoes have increased.

There is a decrease (-20.4%) in Roll on / roll off cargo of the general cargo segment.

A significant increase in oil product group

Last year the greatest increase was observed in liquid cargo segment – a total of 10.28 million tons of liquid cargo was handled, which is by 44.6% more than in 2013. 10.2 million tons of all liquid cargo are oil products.

Last year, the Port of Riga welcomed almost 738 thousand passengers, which is by almost 12% less than in 2013. Passenger volume drop can be attributed to reduction of Tallink scheduled voyages in summer 2014.