Russia to Witness Cargo Boost?

 03 Mar 2016     Carriers, Finance, Global Economy/Trade, Going Places

Plans for new logistics centres could see as much as a 30% rise in Russian cargo traffic by the end of 2016, according to the JOC.

The logistics centres are to be built at the ports of Vladivostok and St Petersburg.

Along with the plans for new logistics centres is the recently operational Port Bronka; a new port in the Gulf of Finland that aims to become Russia’s major port.

Read: Bronka’s Ambition to be Russia’s Number One

The activity comes at a difficult time for Russia with its economy mired in recession. First Deputy Governor of the Russian Central Bank Dmitry Tulin recently said that: “No amount of spending of currency reserves can stabilise the Ruble,” highlighting that the country would not spend to steady Russian currency.

Russia has also had trading sanctions imposed upon it by the European Union.

Despite this, the country has developed its maritime capability in order to boost its regional trade flows.

As a major exporter of gas and oil, Russia is primed to be a key player at a time when oil prices have hit the floor.  

Technical Paper: Port Bronka: A Mega-Port Strategy