Cargo structure changes occur in Port of Riga in 2020
In terms of improvements in the freight structure, 2020 was a crucial turning point for it - the volume of cargo of local origin and with higher added value has risen dramatically and currently accounts for 57 percent of the overall turnover of port cargo
While 23.7 million tons of cargo were handled at the port of Riga last year, almost the entire decrease in volume of 8.8 million tons was related to the fossil cargo section. Cargo groups - grain, timber and containerized cargo, previously identified as the top priorities in the port development plans, maintained steady growth patterns by the end of the year.
“Despite the impact of the Covid-19 pandemic on the transportation industry and the decline in Russian energy cargo, in 2020 the Freeport of Riga has been able to maintain its financial stability, invest in port infrastructure and continue implementation of development projects,” said Mr. Ansis Zeltins, the Freeport of Riga CEO.
In 2020, the Port of Riga was more often used by Latvian grain farmers to export their goods. The new highest achievement for grain product cargo was facilitated by this trend, with a total of nearly 3 million tons of grain products handled at the Port of Riga.
Because of its favorable geographical position, the port companies' investment in the construction of terminals and the Port of Riga's competence in the handling of dry bulk cargo is not only capable of effectively competing with other market players, but also of achieving its ambitious objective of being a regional leader in the handling of grain.
Forest cargo exports continue to grow gradually, accounting for a quarter of the overall turnover of the port in terms of cargo. The port of Riga handled 5.8 million tons of different forestry products and timber last year.
The Riga port companies are expanding their participation in timber processing in addition to timber storage and handling - from drying and impregnation to the manufacture of semi-finished wooden house modules. Such facilities not only improve the competitiveness of companies in the forestry cargo segment operating in the Port of Riga, but also encourage local exports.
Maritime Business World