Global Ports Investments PLC has published its operational results for Q3 2020 and the 9 months to 30 September 2020.
The Group’s consolidated marine container throughput was up 4.4% to 370 thousand TEU in Q3 2020 versus a 2.5% decline in the Russian container market over the same period. The 9-month 2020 consolidated marine container throughput increased by 7.1% up to 1,144 thousand TEU against the Russian container market decline of 2.4% over the same period.
The consolidated marine container throughput of Global Ports’ located in the Baltic Basin declined by only 1.6% in Q3 2020 against a market decline of 10.2% in the same region, while consolidated marine container throughput of the Group’s terminal in the Far Eastern Basin increased by 20.7% in Q3 2020, more than double the market growth of 8.9%.
The Group says its outperformance of the market is ‘a result of the Group’s ongoing efforts to increase productivity and customer service standards’.
Consolidated marine bulk throughput increased by 61% year-on-year to 1.47 mn tons in Q3 2020, with a 9-month 2020 growth of 28% year-on-year, due in part to low coal handling volumes at VSC in August 2019 and the early ramp-up stage of coal handling at ULCT in 1H 2019, which resulted in elevated year-on-year growth rates in Q1 2020.
Heavy ro-ro handling demonstrated signs of recovery with 26% growth in Q3 2020 against Q3 2019 (compared to 2% growth during the 9 months of 2020 vs. 9 months of 2019) whereas car handling remained depressed with a year-on-year decline of 32% in Q3 and a 37% decline during the 9 months of 2020), reflecting the slowdown in Russian consumer demand.