Global Ports enjoys container surge in Q4 2023

Global Ports announces its operational results for Q4 and FY 2023

Global Ports saw a container throughput of 264,000 TEU in Q4 2023, an increase of 5.9 per cent quarter-on-quarter (QoQ) and growth of 47.5 per cent YoY outpacing the growth of the market for the same period.

The key drivers behind the growth were gradual recovery after the shocks of 2022, a growth of the Russian economy as well as rebuilding of the supply chains.

According to the company, the Russian container market experienced sustained growth in Q4 2023, resulting in a total marine container throughput of 4.72 million TEU for the fiscal year 2023. This marked a notable 15.5 per cent year-on-year (YoY) increase.

Marine container throughput at the Group’s terminals in the Baltics increased in Q4 2023 to 125,000 TEU, an 11.1 growth compared to Q4 2022.

However, the FY 2023 marine container throughput of the group’s terminals in the Baltics remained below FY 2022 volumes (-20.2 per cent YoY) given the strong volumes of Q1 2022.

READ: Global Ports brings new reachstackers to VSC

The Group increased its marine bulk throughput in Q4 2023 by 27.8 per cent YoY to 1.65 million tonnes and, for FY 2023, by 68.3 per cent YoY to 6.41 million tonnes as a result of successful efforts to increase utilisation rate of temporary available container facilities at the terminals in the Russian Baltics.

In June 2023, Global Ports Group relocated more than 25 units of heavy-duty port equipment from its North-Western terminals to Vostochnaya Stevedoring Company (VSC) in Russia’s Far East.

More recently, the company together with Hua Xin Container Lines, signed a Memorandum of Cooperation (MoC) to expand sea container transportation between Chinese ports and the Russian Far East.

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