The port of Riga in January-May increased transshipment of ferrous metals by 41.6% y/y

Iron ore transshipment in the port of Riga decreased by 44.2% y/y over 5 months

In January-May 2023, the Freeport of Riga increased the transshipment of ferrous metals (scrap, steel products, ferroalloys) by 41.6% compared to the same period in 2022 – up to 251 thousand tons. This is evidenced by data published on the port’s website.

The transshipment of iron ore in the port of Riga for five months of 2023 amounted to 142 thousand tons, which is 44.2% less compared to the same period in 2022. In January-May, Riga port workers handled 393,000 tons of iron and steel cargo. This is 9% less y/y.

In general, in January-May 2023, the Port of Riga reduced cargo transshipment by 11.8% compared to the same period in 2022 – to 8.32 million tons. 4.81 million tons of bulk cargo were handled (-12.8% y/y) in 5 months, in particular:

• coke and coal – 1.11 mln t (-43.2% yoy);
• grain and grain products – 1.05 million tons (+20.5%);
• chemical cargoes – 200.6 thousand tons (-31.4%);
• timber – 677.8 thousand tons (+1.3%);
• other bulk cargo – 427.6 thousand tons (+27.2%).

General cargo handling in 5M 2023 decreased by 5.2% y/y – to 3.07 million tons, and bulk – by 35.6%, to 436.1 thousand tons.

In 2022, the Freeport of Riga reduced transshipment of iron and steel cargoes by 4.5% compared to 2021 – to 1.47 million tons. Iron ore processing volumes amounted to 954.6 thousand tons, and ferrous metals – 28.7 thousand tons, which is 16.8% more and 28.7% less, respectively, y/y. In general, in 2022, the port reduced cargo transshipment 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 were closed due to mine danger, as well as the threat of piracy by ships of the Black Sea Fleet of the Russian Federation. Cargo turnover of sea trade ports of Ukraine since the beginning of the military invasion of Russia has decreased to a minimum

Ukraine considered the possibility of export of steel products and grains to the world market through the ports of the Baltic Sea. The Minister of Infrastructure of Ukraine met with colleagues from the Baltic States and Poland to discuss the possibility of creating new transport corridors.