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  • 2021 July 16 13:08

    Global Ports posts its Q2 and H1 2021 operational results

    Global Ports Investments PLC (“Global Ports” or the “Company” and, together with its subsidiaries and joint ventures, the “Group”) (LSE ticker: GLPR) today announces its operational results for Q2 and H1 2021.


    • Strong market growth seen in Q2 2021 as the overall Russian container market grew by 13.3 % to 1.38 million TEU, driven by both the accelerating growth of full containerised import (+26.0% y-o-y) and the continued growth of containerised export (+3.9% y-o-y).
    • As a result of the sharp increase in freight rates in the global container shipping market in H2 2020 and a deficit of empty containers globally, during Q2 2021 market players preferred faster container import and export supply chains with the shortest sea leg. As a result, Q2 market growth was concentrated in the Far Eastern basin (Q2 2021: +18.1% y-o-y) and the Southern basin (Q2 2021: +11.2% y-o-y). Nonetheless, combined throughput of terminals located in Saint Petersburg and the surrounding area demonstrated signs of recovery with Q2 2021 volumes up 4.3% y-o-y after an 11.9% y-o-y decline in Q1 2021.
    • As a result of the strong growth seen in Q2 2021 the growth of the Russian container market accelerated to 7.6% y-o-y in H1 2021 with throughput at Far Eastern terminals increasing 14.7% y-o-y, Southern terminals increasing by 9.1% y-o-y, while the growth of combined throughput of terminals located in Saint Petersburg and the surrounding area in Q2 2021 was not sufficient to compensate for the decline in Q1 2021, resulting in 4.2% y-o-y decline for the first six months of 2021.
    • The Group successfully maintained its market share position in Q2 2021 in all its basins with throughput at VSC boosting by 23.4% y-o-y in Q2 2021 (outperforming the Russian Far East market increase of +18.1%) and throughput of its terminals in the Baltic Basin growing by 4.4% y-o-y in Q2 2021 (vs a market growth of 4.3%). In total, Consolidated Marine Container Throughput increased by 10% y-o-y in Q2 2021 to 418 thousand TEUs.
    • The Group’s Consolidated Marine Container Throughput increased by 1.9% y-o-y in H1 2021 to 789 thousand TEUs.
    • The Group’s Consolidated Marine Bulk Throughput increased by 16.2% y-o-y to 1.37 million tonnes in Q2 2021, driven by the solid recovery in global coal demand and high growth of fertilisers and scrap metal handling at PLP (H1 2021: growth of 19.0% y-o-y).
    • Heavy Ro-ro handling demonstrated a continued recovery in Q2 2021 with a 56.4% growth to 6.9 thousand units. Car handling was also strong in Q2 2021 with an 66.4% growth to 26.1 thousand units.
    • On the back strong growth of the market in the Far East, the decision has been made to gradually cease coal handling at VSC and concentrate on the Group’s core strategic operations of driving container volumes. This decision will enable the Group to decrease its environmental impact from the third quarter of 2021 and capture the growth opportunity presented by the increased sustained demand for container import and export flows as well as steadily growing transit volumes seen at VSC.

    Albert Likholet, CEO of Global Ports Management, commented:

    “Over the period, the Russian container market was strong in all segments and across all basins as rapid import recovery, continuing growth of full export, and booming transit volumes has enabled an acceleration of its growth in Q2. We are also pleased to see that the Baltic basin has started to catch up with the overall market performance and that the Group’s terminals grew faster than the market in the Far East basin and Saint-Petersburg area during the second quarter”.

    “Our agile asset base has always meant that Global Ports has been well-placed to navigate any challenges and benefit from any market uplift, and we have remained adaptable, taking an opportunistic approach to additional revenue streams. Furthermore, the impact that our business has on the environment has always been an important consideration for us. VSC container handling growth in the second quarter of 2021 was 23.4% y-o-y with the terminal posting the highest monthly container volumes in its history so far this year, and we see further growth potential to come. Therefore, in the current environment, it makes strategic sense to prioritise container volumes in the Far East, delivering a lower environmental impact, which has always been at the core of our Group strategy”

    Source: Global Ports

2021 December 3

13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
18:31 DP World celebrates 2,000 members of the Digital Freight Alliance
18:07 CMA CGM and Shell perform first Bio-LNG bunkering operation in Rotterdam
17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam
17:06 Port of Antwerp invests in digitalisation of radar infrastructure
16:47 Western Australia and Port of Rotterdam to collaborate on renewable hydrogen
16:05 IMO moves ahead on GHG emissions, Black Carbon and marine litter
15:50 Diana Shipping announces completion of OceanPal spin-off
15:41 RF Federation Council approves Federal Law on Ratification of Nairobi Convention
15:04 Yang Ming adds the latest of its 9th 11,000 TEU ship to the Trans-Pacific service
14:07 SEA-LNG backs Europe’s goal-based, technology-neutral regulation for cleaner shipping
13:50 Liepaja SEZ Board appointed Uldis Hmieļevskis, Deputy CEO, as Acting Manager
13:14 Rolls-Royce extends TBO intervals of mtu Series 4000 engines for commercial marine application
13:03 Oil shipments via CPC Marine Terminal in 11M’21 climbed by 0.7% YoY
12:56 Valenciaport tenders the drafting of the urban development project for areas 2 and 5 of the Special Plan for zone 1 south of the Port of València
12:06 Mostotrest conducted 2,177 operations on raising bridges in Saint-Petersburg over navigation season of 2021
11:45 MABUX: Bunker prices may continue to decline on Dec 1
10:49 Russian Railways' network loading climbed by 3.3% in 11M’2021
10:15 Maersk Customs Services USA highlights trends and opportunities for U.S. importers
09:51 Port of Kiel receives funding for digital test field
09:30 Crude oil prices start rising
09:16 Baltic Dry Index as of November 30