22 Feb 2024 16:04

FESCO records 13% growth of Russian container market in Jan

MOSCOW. Feb 22 (Interfax) - The Russian container market grew 13.3% YoY in January 2024 to 518,000 twenty-foot equivalent units (TEU), the FESCO Transport Group told reporters.

"Growth was noted in all directions compared to January 2023 indicators. The main driver was the recovery of volumes through the ports of the Baltic basin amid the opening of new foreign trade services connecting St. Petersburg with Asian countries," the group said.

In annual terms, imports in January increased 9% to 240,000 TEU, while exports were up 11.6% to 134,000 TEU, and transit increased 20.1% to 49,000 TEU. Domestic transport increased 25% to 95,000 TEU, FESCO said.

Meanwhile, the Russian container market decreased 8% in January 2024 versus December 2023, FESCO said. "The drivers of the decline were export and domestic transportation, which dropped 12% and 13%, respectively. Part of this decrease is due to the effect of the "high base" of December 2023, as well as ongoing difficulties in sending container trains via the Eastern Polygon," the company said.

The container market of Russia includes foreign trade and transit container turnover from Russian ports, foreign trade and transit container turnover via Russian land crossings, domestic transportation of containers via Russian Railways and cabotage transportation.