14 Jul 2022 16:51

Global Ports retains outlook for decline in Baltic market in 2022, Northwest terminals to focus on non-containerized cargo

MOSCOW. July 14 (Interfax) - Global Ports retains the forecast that the results for the Baltic basin market will be significantly lower in 2022 than in 2021.

"The outlook for cargo turnover in the Baltic basin for 2022 envisages a significant decrease in volumes compared to 2021, while the Far East market is expected to be more stable," the company said.

"The group will focus on handling non-containerized cargo in the Northwest region, as well as on cost-management measures. Meanwhile, Vostochnaya Stevedoring Company (VSC), Primorye, will focus on improving operational efficiency amid growing demand for transportation through Far East ports," Global Ports said.

Global Ports in April forecast that the Baltic basin market in 2022 would be well below 2021 levels, while the Far East market could be more stable.