Global Ports expects container traffic to increase in 2024, sees growth in Oct - CEO

MOSCOW. Dec 11 (Interfax) - Global Ports, Russia's largest operator of marine container terminals, expects container traffic at its terminals to grow in 2024, CEO Albert Likholet told Interfax on the sidelines of VTB's Russia Calling! investment forum.

"We are factoring growth of volumes in both regions where we have a presence into our estimates," Likholet said when asked about the forecast for container handling next year.

"In general, we're looking very good. In October, we had a positive dynamic in both basins where we have a presence," he said, referring to the Baltic and Russia's Far East.

Commenting on charter rates on the container shipping market, he said the "charter market has essentially returned to 2021 figures and on some routes even to pre-Covid figures of 2019."

Container traffic at Global Ports terminals grew by 19.4% year-on-year to 241,000 TEU in the third quarter after falling 16% in the second quarter. In the first nine months of 2023, container traffic at the group's terminals fell 22% to 634,000 TEU.

Global Ports owns the Petrolesport (PLP), First Container Terminal (FCT), Ust-Luga Container Terminal and Moby Dik container and multipurpose terminals on the Baltic; Vostochnaya Stevedoring Company (VSC) in the Far East; two container terminals in Finland, in Helsinki and Kotka, operated by Global Ports/CMA Terminals joint venture Multi-Link Terminals Oy; as well as the Yanino inland terminal outside St. Petersburg.

Global Ports' largest shareholder is Delo Group, which is owned by Sergei Shishkarev and state company Rosatom.