News

Q3 and 9M 2024 Operational results

IJSC Global Ports Investments (“Global Ports” or the “Company”, together with its subsidiaries and joint ventures – the “Holding”, part of the Delo Group) today announces its operational results for Q3 and 9M 2024.

In Q3 2024, Russian marine container market continued to recover. Total container throughput at Russian marine terminals increased by 8.4% y-o-y to 1,292 thousand TEU. In 9M 2024, container market grew by 12.5% y-o-y and reached 3,924 thousand TEU, that is comparable to the level of 2021.

The recovery of demand for container handling in the Baltic basin is the main driver for market growth during the year. Container throughput in the Northwest Russia increased by 14.3% y-o-y in Q3 2024 and 41.7% y-o-y in 9M 2024, significantly outperforming the market. Share of the Baltic basin in total Russian market increased to 31% in 9M 2024 from 24% a year earlier. Container throughput at marine terminals in the Southern Russia (Azov-Black Sea and Caspian basins) demonstrated a slight growth by 4.9% y-o-y in 9M 2024. In the Far East basin container throughput for the same period mostly unchanged in annual terms and remained closer to the high level of 2022–2023.

Consolidated container throughput of Global Ports’ marine terminals increased to 286 thousand TEU in Q3 2024, or by 14.7% y-o-y. In 9M 2024, the Holding’s marine terminals handled 853 thousand TEU, that is 32.7% higher than in the same period a year earlier.

Since the beginning of 2024, growth rate of Global Ports’ consolidated container throughput exceeds market growth rate due to the favourable positioning of the Holding in the Baltic basin. Global Ports’ terminals in the Baltics are actively increasing container handling in both export and import directions, and volumes of cabotage shipments are growing exponentially. In 9M 2024, container throughput at the Company's marine terminals in the Baltics increased to 482 thousand TEU, that is 2.9 times higher than in the same period a year earlier.

Container throughput at the Company’s terminal in the Far East in Q3 2024 grew by 20.0% compared to Q2 2024. Moreover, in September throughput volumes were comparable to the average monthly level of the end of 2023 and beginning of 2024.

The Holding continues to increase handling of non-containerised cargo: in 9M 2024, growth rate of bulk cargo throughput was 5.1% y-o-y and in absolute values bulk cargo throughput at Global Ports’ marine terminals reached 5.0 million tonnes.

Key operational information:

Rounding adjustments have been made to calculate some of the operational information included in this release. As a result, numerical figures and percentages shown as totals in some tables may not be exact arithmetic aggregations.


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