Global Ports’ volumes nearly halve in Q1 2023

Global Ports has reported a decline in its consolidated marine container throughput in the first quarter of 2023.

The figure totalled 186,000 TEU, a drop of 48.8 per cent compared to the same period in the previous year, due to the high base effect of the first two months of 2022 as reported by the company.

However, the figure demonstrated a 4 per cent increase compared to the previous quarter, indicating a gradual recovery in the container supply chain. The Russian container market also posted a significant decline of 16 per cent compared to Q1 2022, with total marine container throughput of Russian ports amounting to 1.09 TEU compared to 1.3 million TEU in the first quarter of last year.

The market increased by 8.4 per cent compared to the previous quarter as a result of a continuing gradual increase of direct vessel calls at Baltics and strong demand in both Far Eastern and South basins.

To compensate for the decline in the container market on the Baltics, Global Ports has increased its consolidated bulk cargo throughput in Q1 2023 by 133.4 per cent to 1.2 million tonnes, a significant increase compared to Q1 2022.

Despite the decline in the container market, Global Ports remains optimistic about the future, expecting a gradual recovery of the market in the second half of 2023, following the end of the high base effect and the normalisation of the supply chain.

The ongoing conflict between Russia and Ukraine had a significant impact on the supply chain – especially in the warzone where the safety of transportation is the top concern.

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