Cargo, Latvia, Port, Transport

The Freeport of Riga Board Chairman Mr. Andris Ameriks says: “Every cruise ship’s call at the port of Riga is welcome not only as beneficial for the port, but also as a contribution to the city of Riga. Cruise passengers have money, and going ashore they not only visit tourist attractions, but are also shopping and having meals in restaurants and cafes of Riga.”

Performance of Tallink ferry line is quite successful – during the reporting period it carried 289.6 thousand passengers, i.e. by 7.4% ​​or by 19.9 ​​ thousands of passengers more.

Compared to June 2016 in July 2016 the Freeport of Riga handled by 7.5% more cargo, and the handled amount reached 2.97 mln tons of various cargos. In general, during the first seven months of the current year 21.23 mln tons of cargo were handled at the port, which is by 10.5% or 2.48 mln tons less compared to the 2015 reporting period. The turnover negative indicators can still be related to coal and oil product transit flow decrease - a drop by 18.3% or 2.78 mln tons was experienced during seven months. By contrast, the rest of the cargo turnover compared to the last year's reporting period increased by 3.6%.

Coal volume decline affects the dry bulk segment

During 7 months of 2016 the port handled 12.2 mln tons of dry bulk cargo, which, compared to the 2015 reporting period, is by 8.8%, or 1.2 mln tons less. Coal traditionally accounts for more than half of the bulk cargo volume, so its turnover decrease significantly affects the overall performance indicators. Although in July after a two-month break more than 1 mln tons of coal were handled again, the total coal turnover during the reporting period decreased by 19.3%, or by 7 mln tons. At the same time the amount of chemical cargo increased in dry bulk segment - 1.7 mln tons have been already handled this year, which is by 8% more than during the last year's first seven months. As for the total dry bulk segment, increasing fertilizer transshipment volume slightly compensates for coal decline. Volume growth is registered in the wood pellets (+ 14.1%), cereal products (+ 54.7%), ore (+ 96.5%), as well as in various metal goods (+3.4 times).

Container cargo retains the previous year's level

During 7 months of 2016, the port handled 3.6 mln tons of general cargo, which is by 4.2% or 156.8 thousand tons less than within the last year's corresponding period. The port processed 2.2 mln tons of containerized cargo, maintaining, in fact, the 2015 level (-0.4%), while the number of container units, handled during the reporting period, increased by 3.1% or 215.5 thousand units. As for general cargo segment - the positive dynamics of indicators has been maintained in regards of Ro-ro cargo (+ 4.7%), while the volumes of timber cargo (-6.4%) and metal goods (-32.9%) continue to fall.

Oil product volumes continue to shrink

Due to oil prices drop and the overproduction of oil at the world's consumer markets oil products flows, transshipped via the port of Riga, continue to decrease. 617.5 thousand tons of oil products were handled in July, which is the smallest amount per month over the past two years. The port stevedore companies predict that in August the volume of handled oil products will continue to shrink. Thus, the total liquid cargo turnover during seven months of 2016 compared to seven months of 2015, decreased by 1.1 mln tons or 17.3%. Overall, 5.4 mln tons of liquid cargo was handled this year. The 7 months’ volume of oil product transshipment dropped at all three largest stevedoring companies, operating at the Freeport of Riga.