Increase in cargo in ports in March; the effects of the war are expected in the coming months

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Commenting on the turnover of oil products and coal cargo in ports, the Minister of Transport Tālis Linkaits (“Conservatives”) noted that the restriction imposed by the European Union on imports of coal and other solid fossil fuels originating in Russia will have an impact on the transit sector in the coming months. As long as the sanctions do not affect oil exports from Russia, no significant impact is expected in this regard.

There was also an increase in oil cargo in March compared to February – a total of 776.5 thousand tons of oil products were handled in large ports, which is 53% more than in February. This is 270 thousand tons or 26% less than last year.

In the general cargo segment, the increase in the first quarter of this year compared to the same period last year is 9.9%, of which 6.9% more container cargo was handled, while in the ro-ro cargo group the increase is 17.9%. This year, 4.6% more timber has been handled and 30% less metals.

In the first three months of the year, rail freight transport increased by 13.2% compared to 2021 – a total of 6.8 million tonnes of freight was transported, a third of which is accounted for by export freight. In March, changes were observed in the countries of origin of cargo – by

71% decrease in cargo from Ukraine, 33% from Belarus,

while cargo volumes from Kazakhstan increased by 54% compared to February.

In the first quarter of the year, the Freeport of Riga handled 5.78 million tons of cargo, which is 7.1% more than in the first three months of 2021. In March, a total of 2.26 million tons of cargo were handled, 15% more than in the same month last year.

The Ministry of Transport pointed out that last month was particularly successful for container transport at the Freeport of Riga – 40 container liners entered the port, carrying almost half a million tons of containerized cargo – the largest monthly volume in the last two years and a repeat of the monthly record. Compared to February, the total timber flow also increased, exceeding half a million tons, and shipments of grain cargo increased slightly.

The terminals operating at the Freeport of Ventspils handled 1.6 million tons of cargo in March, which is 21.7% more than in March last year. In the 1st quarter of 2022, a total of 3.96 million tonnes were handled, which is 10.6% more than in the corresponding period of 2021. This quarter shows the first results of the cargo diversification policy, looking for opportunities to replace the volumes of Russian coal lost two years ago – the bulk cargo segment grew by 157% in the first quarter. According to forecasts, the volume of liquid cargo has decreased – minus 31% compared to last year. Meanwhile, general cargo has positive results – an increase of 14%, the ministry said.

In the first three months of the year, 2.04 million tons of cargo were handled in the port of Liepaja, which is an increase of 30.7% compared to the first quarter of last year. The most significant increase was in container cargo – they were handled in Liepaja by 2.3 times more than last year. The Port of Liepaja handled 61% more grain this year than last year – a total of 930 thousand tons.

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