Port of Riga increased transshipment of ferrous metals by 20.3% y/y in January-October

Iron ore transshipment in the port of Riga decreased by 56.2% y/y in 10 months

In January-October 2023, the Freeport of Riga increased transshipment of ferrous metals (scrap, steel products, ferroalloys) by 20.3% compared to the same period in 2022 – up to 448 thousand tons. This is evidenced by the data on the port’s website.

Transshipment of iron ore in the port of Riga for 10 months of 2023 amounted to 383.2 thousand tons, which is 56.2% less compared to the same period in 2022. In total, in January-October, Riga port workers handled 898 thousand tons of iron and steel cargo. This is 32.6% less than in the previous year.

In general, in January-October 2023, the Port of Riga reduced cargo transshipment by 17.7% compared to the same period in 2022 – to 15.69 million tons. In 10 months, the port handled 8.51 million tons of bulk cargo (-25.9% y/y), in particular:

• coke and coal – 1.36 million tons (-64.9% y/y);
• grain and grain products – 2.53 million tons (+26.3%);
• chemical cargoes – 408.6 thousand tons (-10.9%);
• wood – 1.12 million tons (-13.3%);
• other bulk cargoes – 619.1 thousand tons (-40.4%).

Processing of general cargo for 10 months of 2023 increased by 1.3% y/y – up to 6.42 million tons, and bulk – decreased by 39.2%, to 757.7 thousand tons.

In 2022, the Riga Free Port reduced the transshipment of iron and steel cargo by 4.5% compared to 2021 – to 1.47 million tons. The volume of iron ore processing was 954.6 thousand tons, and ferrous metals – 28.7 thousand t, which is 16.8% more and 28.7% less y/y, respectively. In general, for 2022, the port reduced cargo handling by 9.3% year-on-year – to 21.5 million tons.

As GMK Center reported earlier, after the start of the war, seaports of Ukraine stopped full-time work. Ukrainian exporters were looking for ways to ship products, in particular through European ports.

At the same time, since August 2023, a temporary corridor in the direction from and to the ports of Great Odesa began to operate. In November, 14 vessels exported about 620,000 tons of iron ore and 140,000 tons of steel products from Odesa and Pivdennyi ports.

In October, the export of Ukrainian iron and steel products through the ports of Great Odesa was approximately 507,000 tons of iron ore (four bulkers from Pivdenny) and 213,500 tons of steel products (two ships from Odesa).