The Russian port company Global Ports, 30 percent of which is currently owned by APM Terminals, can expect a further drop in revenue this year. Drewry has compiled a new analysis, following the company's annual report for 2014, which showed a net loss of USD 193.1 million due to the extreme devaluation of the ruble and the economic crisis in the country, which picked up speed for real last year following the western sanctions against the country.
The macroeconomic risks will remain a challenge for the company this year, where continued low oil prices and sanctions will put pressure on the country's economy. Among other factors, this is why the analyst agency projects a five percent drop in volumes in the two largest terminals in St. Petersburg, which corresponds to a decline in revenue of seven percent.
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