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Russian container market falls by 15.9% to 5.5 mln TEU in 2022 — Fesco

According to Fesco, the primary event that influenced container market performance was the reorientation of cargo from ports in the North West region to the Far East

MOSCOW, January 23. /TASS/. Russia’s container market in 2022 decreased by 15.9% compared to the level of 2021 and amounted to around 5.5 mln TEU, the press service of the Fesco transport group reported on Monday.

"The Russian container market in 2022 decreased by 15.9% compared to 2021, to about 5.492 mln TEU," the statement said.

At the same time, imports fell by 12% to 2.1 mln TEU, exports fell by 25% to 1.5 mln TEU, and transit fell by 23% to 750,000 TEU. Domestic transportation remained stable at 1.1 mln TEU in 2021.

Fesco added that the Russian container market declined by 19% in December 2022 compared to December 2021, totaling 486,300 TEU. Import traffic rose by 9.1% in December. Exports fell 39% in comparison to the same month in 2021. Meanwhile, transit fell by 28%.

According to Fesco, the primary event that influenced container market performance was the reorientation of cargo from ports in the North West region to the Far East. Another one was the closure of the main container lines, which impacted market availability in South Asia and Latin America. However, the container industry is expected to actively rebound in the second half of 2022 as a result of new participants, cargo flows, and services, the company believes.

Russia’s container market encompasses international commerce and transit container traffic at Russian ports, foreign trade and transit container traffic at Russian Railways land crossings, domestic transportation on the Russian Railways network, and cabotage shipping.