Boston, MA -- (SBWire) -- 08/08/2013 --The country's two bellwethers - the port of Novorossiysk, Russia's largest port in terms of total throughout; and the port of St Petersburg, Russia's main box facility - are set to hold their respective top positions in Russia's maritime sector in 2013. While we expect the country's consumer story to remain attractive over the next few years, helping container throughput growth at its ports, economic growth will be lacklustre as a result of too much government intervention in key sectors - energy, infrastructure and banking - and declining global oil prices.
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Novorossiysk's growth in terms of containers is also being helped by the Sochi Winter Olympics development.
St Petersburg, having fully recovered its total throughput in 2011, is expected to post another year of negative growth in tonnage, while Novorossiysk's growth in total throughput will take similar break in 2013 after five years of increasing volumes.
Over the medium term we project further growth at both the port of Novorossiysk and the port of St Petersburg, both in terms of tonnage and box throughput.
Headline Industry Data
- 2013 port of Novorossiysk tonnage throughput forecast to decrease 8.0%; over the medium term we project a 2.2% increase.
- 2013 port of St Petersburg container throughput forecast to grow 7%; over the medium term we project a 47% increase.
- 2013 total trade growth forecast at 3.5%.
Key Industry Trends
Novorossiysk To Lose Azeri Oil Role: Russia notified Azerbaijan of its intent to cancel a contract for the 1,300km Baku-Novorossiysk pipeline. Under the 1996 deal, Azerbaijan transited crude through the Russian pipeline to the Black Sea port of Novorossiysk. Deliveries are likely to continue unhindered for the remainder of 2013, but from 2014 the outlook for the route will be dependent upon the outcome of ongoing negotiations.
Gazpromneft Marine Bunker Acquires Romanian Bunker Operator: Gazpromneft Marine Bunker (GMB), operator of Russian oil and gas giant Gazprom Neft's bunker business, has acquired Marine Bunker Balkan S.A. (Romania), which operates in the Black Sea port of Constantza, from Unicom Holding. It is the first international asset for the subsidiary of Gazprom Neft that supplies bunker fuel for marine and river vessels.
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