Riga port expects increase in cargo volumes this year

  • 2022-01-17
  • LETA/TBT Staff

RIGA - Based on forecasts of stevedores, global trends and economic processes in the sector, Riga port this year plans a cargo turnover growth by 5-6 percent, LETA learned from Riga Freeport Administration's spokeswoman Inga Sabovica.

The total cargo volume handled by the Riga port this year might reach 22.8 million tons.

In 2022, grain cargos are expected to grow because the port has made considerable investments in the respective infrastructure, and the companies operating at the port have been able to successfully attract grain transit cargos from Lithuania and Russia.

At the same time, it is clear that this segment depends on the weather conditions which can seriously affect harvests and their quality.

"This year we plan a small, but stable cargo turnover growth that is important for the Riga port to be able to successfully continue investments in infrastructure, green technologies and attract private investments," said Riga Freeport Administrator Ansis Zeltins.

He said that works on the port's industrialization, new logistics park at the Riga port and reconstruction of the land infrastructure are underway.

A positive contribution in cargo flows is expected also from energy resources cargos - in the fourth quarter of 2021, the Riga port resumed handling of coal and coke cargos, and it is expected to continue work with these cargos also in 2022.

Also, it is expected that the logistics chains disrupted during the pandemic might gradually return to business as usual, which might ensure a rise of container cargos by 9-10 percent.

As reported, the Freeport of Riga handled 21.499 million tons of cargo in 2021, which is a reduction of 9.3 percent from a year ago, according to information released by the port.

Bulk cargo, which dominated the port’s cargo structure last year, declined 11.2 percent year-on-year to 12.024 million tons. Handling of general cargo fell 2.7 percent to 7.205 million tons and reloading of liquid cargo decreased 17.9 percent to 2.269 million tons.

Reloading of containerized cargo dropped 8.7 percent year-on-year to 4.234 million tons last year.

Reloading of grain products decreased 2.4 percent year-on-year to 2.795 million tons.

The port also handled 2.174 million tons of oil products, down 18.5 percent from the previous year.

Reloading of timber increased 17.3 percent year-on-year to 2.591 million tons.

In all, 1.119 million tons of coal were reloaded in the port last year, down 58.2 percent from a year ago.

Riga is the largest Latvian port by cargo turnover and also by the number of ship passengers.