The decrease in cargo turnover at Russian seaports has reached a record high in 30 years

The fall in cargo turnover at Russian seaports in 2024 was a record for the last 30 years.

This was stated by the Association of Commercial Seaports of the Russian Federation, rosZMI reports.

According to the chairman of the board of directors of the association, Denis Ilatovskii, the fall in transshipment was mainly due to a decrease in coal loading.

“Regardless of sanctions, geopolitics, railways, this was facilitated by low coal prices, because the energy balance in the world was formed in such a way that in 2022 coal prices were, say, $240 per ton with delivery to the main ports of consumption, and in 2024 $100 with a small price, that is, the fall in coal prices in dollars, even regardless of the exchange rate, was more than two times,” he explained.

Ilatovsky said that in order to increase coal transshipment through ports, it is necessary to reduce transportation costs. In particular, the theoretical relocation of containers from the port of Novorossiysk (where the container terminals are located) to the port of Taman (where the coal terminal operates) to load empty gondola cars from under the coal would allow the Russians to reduce the cost of empty mileage. USM previously reported that “Sovcomflot’s” revenue fell by 19% in 2024.