The port of Riga increased transshipment of iron and steel products by 20.2% y/y in January-April

In January-April 2024, the Freeport of Riga increased transshipment of iron and steel products by 20.2% compared to the same period in 2023, to 385.3 thousand tons. This is evidenced by the data on the port’s website.

Transshipment of metallurgical raw materials (scrap, metals, ferroalloys, ore) increased by 14.1% y/y over 4 months – to 336.7 thousand tons, and finished steel products – by 90.6% y/y, to 48.6 thousand tons.

In January-April 2024, the port of Riga handled 6.15 million tons of cargo, which is 9.9% less than in the same period of 2023. In particular, bulk cargo – 3.18 million tons (-20.9% y/y), general cargo – 2.66 million tons (+8.5% y/y), liquid cargo – 311.3 thousand tons (-11.4% y/.y).

The decrease in total transshipment volume was due to a sharp drop in coal and coke handling – by 99.6% y/y, to 4.4 thousand tons, as well as crushed stone – by 75.5% y/y, to 61.6 thousand tons, and oil – by 21.3% y/y, to 260.7 thousand tons.

In 2023, the port of Riga handled 516.7 thousand tons (+0% y/y) of steel raw materials, 498.6 thousand tons (-47.8% y/y) of ore, and 75.7 thousand tons (-14.7% y/y) of finished steel. In general, cargo transshipment decreased by 20.1% compared to 2022 to 18.79 million tons.

Ukrainian ports handled 45.8 million tons of cargo in January-May this year, according to preliminary data. These volumes are almost twice as high as in the same period in 2023. During the 9 months of the sea corridor’s operation (since August 2023), Ukraine exported 50 million tons of cargo through it, and port workers handled 1737 vessels.