Maersk's Russian port operator books significant dive in container volumes

The shipping group owns 30.75% of port company Global Ports but has put its stake up for sale following Russia’s invasion of Ukraine.

Photo: Global Ports

Russian port operator Global Ports, of which Danish shipping group A.P. Moller-Maersk is still a co-owner, has been impacted by the war in Ukraine, which has entailed a drop in volumes of more than 40% in the second quarter, reports Danish business daily Børsen.

”As a consequence of global and local geopolitical tensions and a considerable reduction in major liner companies’ ships docking at Russian ports, both the Russian container market in the Baltic Sea and the group’s terminals in this region saw a severe drop in throughput of containers, cars and RoRo volumes in Q2 2022, comments Global Ports,” according to the newspaper.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs