Boston, MA -- (SBWIRE) -- 11/20/2012 -- The Port of Riga is set to hold the top position in Latvia's maritime sector in terms of both total tonnage and container throughput in 2012 following another year of robust growth in 2011. Riga has a strong position to build on in 2012. Its 2011 throughput enabled the facility to retain its second place ranking amongst the Baltic states' container ports, after Lithuania's Klaipeda. Over the medium term we project further growth at the port of Riga. Ventspils, the country's second largest port in terms of the total throughput, has started its recovery, as it returned to positive growth in 2011. Headline Industry Data ???? 2012 port of Riga tonnage throughput forecast to grow 9%, over the medium term we project a 21% increase. ???? 2012 port of Riga container throughput forecast to grow 13%, over the medium term we project a 30% increase. ???? 2012 total trade growth forecast at 7.4%. Key Industry Trends Upside Risk From Ventspils Dry Bulk Focus The Latvian port of Ventspils' plan to build a timber terminal highlights the facility's continued diversification away from an overreliance on liquid bulk cargoes by moving further into the dry bulk market. Ventspils plans to construct a US$18.62mn timber terminal, which is projected to be completed by mid-2013. The project offers upside risk to our already-robust throughput forecasts for the port.
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