Freeport of Ventspils reports 40.9% drop in cargo turnover in H1
During the first half 2020 cargo turnover in the Freeport of Ventspils fell 40.9% from the respective period a year ago, informs LETA, according to information available on the port’s website.
The port’s representative Inga Ievina told LETA that a reduced handling of coal left the biggest impact on the port’s cargo turnover. She said that the shipping of coal via Ventspils decreased due to a changed market situation and also the warm winter. Meanwhile, handling of general cargo even slightly increased.
The Freeport of Ventspils Authority’s operating income was EUR 8.9 million in January-June 2020.
While in 2019 coal accounted for nearly a third of all cargo reloaded in Ventspils, in the first half of this year demand for handling coal at the port fell not only because Russia diverted its cargo to its own ports but also because of the warm winter and slowing manufacturing as a result of the Covid-19 crisis. In the six months of 2020 only 245,000 tons of coal were reloaded in Ventspils, down 3.6 million tons or 94 percent from the first half of last year.
Handling of oil product cargo was stagnating as well, as the Freeport of Ventspils reloaded 4.3 million tons of oil products in the first half of 2020, down 9 percent on year.
Meanwhile, handling of general cargo – ro-ro and timber – remained at last year’s level and even slightly increased, as the turnover of timber cargo at the port was up 25 percent.
In the first half of 2019, the Freeport of Ventspils reloaded 11.506 million tons of cargo.
Source: Baltic Course