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Russia Shipping Report Q1 2014 - New Market Research Report

New Transportation research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 01/28/2014 -- Russia's two bellwethers, the port of St Petersburg, Russia's main box facility, and the port of Novorossiysk, one of the country's largest ports in terms of total throughout, are set to hold their respective positions in Russia's maritime sector in 2014. While we expect Russia's consumer story to remain attractive over the next few years, helping container throughput growth at the country's ports, economic growth will be lacklustre as a result of too much government intervention in key sectors - energy, infrastructure and banking - and volatile global oil prices.

Novorossiysk's container throughput is also being supported by the Sochi Winter Olympics development. St Petersburg, having fully recovered its total throughput in 2011, lost momentum over 2012-2013. It is, however, expected to post a year of moderate growth both in tonnage and containers in 2014, while Novorossiysk's growth in total throughput also will not be stellar.

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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

- 2014 port of Novorossiysk tonnage throughput forecast to grow 2%, over the medium term we project a 16% increase.
- 2014 port of St Petersburg container throughput forecast to grow 3%, over the medium term we project a 19% increase.
- 2014 total trade growth forecast at 4.65%.

Key Industry Trends

Container Option for NSR: The Northern Sea Route (NSR) continues to ratchet up milestones, with a Chinese multipurpose vessel carrying containers transiting the route and highlighting the potential of the passageway to cater for box shipments from Asia-Europe. The NSR's development continues, but BMI warns a number of barriers must still be removed for Russia's plans for the route to be realised.

Global Ports NCC Acquisition, Regional and Global Expansion an Option: Consolidation of Russia's container terminal sector, with Russia's largest port company Global Ports acquiring the country's second largest port operator National Container Company, is good news for the container shipping companies that use these firms' ports as there is the potential for more streamlined operations from one large consolidated firm. The development of such a major player could, however, put off international port operators from entering the market, with BMI previously highlighting Russia, as a country of interest for port operators.

South Korea Seizes the Advantage in Russia: Some of the most significant agreements to have come out of the summit between Russian President Vladimir Putin and his South Korean counterpart Park Geun-hye relate to a Russian order for 13 LNG carriers and Russian-Korean cooperation in building up Russia's shipbuilding and marine capabilities.

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