Container Throughput of Russian Ports is Forecasted to Fall by 35% to 3.4 mln TEUs in 2015

In 2015, container transshipment in Russian seaports is forecasted to fall by 35%, year-on-year, to 3.4 mln TEUs, IAA PortNews journalist cites Konstantin Sokolov, Director General of FESCO Transportation Group, as saying at the extended meeting of Rosmorrechflot’s Board with the reference to Goldman Sachs and JР Morgan analysis.

According to Konstantin Sokolov, January-February turnover of containers fell by 21% with the Baltic Sea ports showing the fastest fall.

Konstantin Sokolov says the container market of Russia will feel the negative impact of the sanctions, 4-pct fall of GDP, decline of consumer activity and slackening in the rate of China’s economic growth.

On the other hand, the degree of containerization is much lower in Russia as compared with other countries that will ensure the market’s structural growth in the future.

Besides, depreciation of the ruble is likely to facilitate container exports via the ports of the Far East (sawn timber, paper, coiled steel) while the eastward focus will boost trade turnover between Russia and APR countries, especially China.

Consensus forecast of macroeconomists suggests that Russian economy will gradually recover from 2016 with the imports growth which is to have a positive impact on container throughput of Russian seaports.

According to Konstantin Sokolov, container throughput of Russian seaports declined by 1.5% to 5.27 mln TEUs in 2014 including 2.29 mln TEUs in the Baltic Basin (-3.6%), 1.59 mln TEUs in the Far East Basin (+1.8%) and 750,000 TEUs in the Southern Basin (-0.3%).

Source: http://portnews.ru/news/196650/

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