The Russian container market performed well in Q4 of 2020, with exports and imports increasing by 5.3% and 8.6% year-on-year (YoY) respectively despite the effects of the COVID-19 pandemic, according to Global Ports Investments (Global Ports).
The company said containerised trade in the country grew by 4.2% YoY Q4 and this meant the market remained broadly flat in 2020 and resilient in the face of the pandemic.
The total container throughput of marine terminals in Russia amounted to 5.053 million TEU in 2020, a decline of only 0.8% YoY.
Global Ports’ own terminals outperformed the overall market in 2020, with containerised traffic increasing by 5.1% in Q4 and 6.6% throughout the year. This is compared to the overall market decline of 0.8%.
Albert Likholet, CEO of Global Ports Management, commented: “In 2020 the Russian container market demonstrated not only strong resilience but also its ability to adapt swiftly to upcoming challenges.
“In the course of 2020, the industry faced supply chain disruption, reshuffling of vessels calls, strong macro headwinds, and high FX volatility.
“Nonetheless market performance was broadly flat in 2020 — a marked improvement compared to the 20-30% negative impact seen under less challenging circumstances in 2009 and 2014.
“We see this strong resilience as a clear sign that the Russian container market is becoming more efficient and progressively more advanced.
“However, in turn this means more demanding requirements on container terminals, on standards of service, infrastructure capabilities, IT and our focus on clients.
“Our outperformance of the market in 2020 demonstrates that we are more than capable of meeting market expectations as they develop and remain on the right track in implementing our strategy.”