Сargo transshipment in Ukrainian ports increased by 5% y/y in 2023

In 2023, Ukrainian ports increased cargo transshipment by 5% y/y – up to 62 mln tons. This can be considered the beginning of the industry’s recovery after a difficult 2022, when port cargo turnover collapsed by 2.6 times compared to the pre-war 2021.

The main event of last year for the port industry was the opening of the temporary sea corridor in August. As a result, 430 ships were accepted for loading through the corridor, 400 ships were dispatched, exporting 12.8 million tons of cargo.

The dynamics of transshipment by ports in comparison with the previous year is ambiguous:

• Odessa – growth by 9%, to 8.4 million tons;
• Chornomorsk – decrease by 3%, to 11.4 million tons;
• Pivdennyi – decrease by 34%, to 10.1 million tons.

The most dynamic increase in transshipment is observed in the Danube ports (Izmail, Reni and Ust-Dunaysk). In 2023, the total cargo turnover in these ports increased almost twice – up to 32 million tons, in 2022 – three times, up to 16.5 million tons from 5.5 million tons in 2021. In particular, last year the volume of transshipment in the port of Izmail amounted to 20.2 million tons (2.3 times growth by 2022), in Reni – 10.1 million tons (+47% y/y).

Although a significant part in the structure of Danube transshipment is grain cargo (62.5% in 2023), these ports are also important for the export of iron and steel products. In 2023, iron ore transshipment amounted to 1.9 million tons (5.9% of the total cargo turnover). In absolute terms, iron ore transshipment decreased by 9.5% compared to 2022, while ferrous metals transshipment increased by 2.1 times (to 1.7 mln tons).