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Russia Shipping Report Q2 2010Published by: Business Monitor International Published: Mar. 10, 2010 - 94 Pages Table of Contents
AbstractThe quarter has been marked by a number of positive developments in Russia's port and shipping sector. The country's newest crude oil port, the port of Kozmino, which is operated by Transneft, has begun operations with a shipment of oil to Hong Kong. The port of Kozmino, which is near the port of Nakhodka in Russia's Far East, is a specialised oil seaport, with a draught of 15m. The port is able to cater for 300 tankers a year. A further terminal is slated for construction, during the second phase of development at the port. This would enable the port to cater for 150,000 deadweight tonne (dwt) vessels and handle 500 tankers per year. Oil is currently transported to the port of Kozmino by rail. However, during the second phase of the Eastern Siberia-Pacific Ocean (ESPO) pipeline (which is due to be completed in 2014-15) it is to be extended to Kozmino. Therefore, over the mid term, the port is expected to play a greater role in Russia's energy export sector. Portworld reports that Russia's Prime Minister Vladimir Putin has predicted that Kozmino will become Russia's third largest oil-export facility after the port of Primorsk and the port of Novorossiysk.In the meantime, the construction of the liquid bulk cargo facility at the new port of Ust-Luga appears to be progressing on schedule. The facility, which is to handle exports of oil and marine fuel, will have a capacity of 10.5mn tonnes a year, with room to increase this to 13-14mn tonnes. The facility will offer a draught of 16m, allowing it to cater for tankers with a displacement of 120,000 tonnes. The complex is operated by Rosneftbunker. Russia plans to divert oil transit from Estonia to a domestic Russian port, with shipment to start by the end of 2010. Other port developments include the acquisition by UAE-based port operating company Dubai Ports World (DP World) of a 25% stake in the in the container terminal at the Russian Far East port of Vostochny, and a number of projects in Murmansk. Russian shipping company Sovcomflot announced its plans to build an oil terminal to cater for the needs of the oil and gas fields in the Barents Sea. Murmansk, which is currently renowned as a coal export port and the largest coal handling facility in Russia, is not just developing oil and gas export facilities. In September 2009, the governor of the Murmansk region, Dmitry Dmitriyenko, announced that RUB150bn (US$4.96bn) was to be invested in developing the port and boosting its turnover to 100mn tonnes per year. More recently, the mining group Norilsk Nickel announced plans to resume its suspended project at the port of Murmansk. The company will develop a terminal at the port, which will be capable of handling 1.5mn tonnes per year. From a shipping perspective, Sovkomflot has launched a new ice tanker, which has been domestically produced and will cater for the country's offshore oil operations in the Arctic. The Kirill Lavrov was launched by Russia's Prime Minister Vladimir Putin at the Admiralty Shipyards in St Petersburg. The vessel, which is a Panamax Arctic tanker, is 257m long and 34m wide. The ship has a draught of 21m. The Kirill Lavrov is capable of breaking ice of 1.2m thick when travelling at a speed of three knots. In open water the vessel is capable of travelling at 16 knots. The tanker will, according to the Barents Observer, operate a shuttle service 'between the Prirazlomnoye oil field and the floating oil terminal Belokamenka, in the Kola Bay'. The Kirill Lavrov not only marks an advance in Russia's Arctic oil aspirations, but also in Russia's domestic shipbuilding. The vessel was built at St Petersburg's Admiralty Shipyards and is one of two new Arctic class tankers. The Kirill Lavrov's sister ship, the Mikhail Ulyanov, is in the final stages of construction and is, according to Sovkomflot, to be delivered in 2010. And finally, Sovkomflot, which is one of country's leading shipping companies, has been named as one of the 13 freight transport companies that the Russian state plans to privatise stakes in in 2010. Other ocean shipping companies on the list are the Sakhalin Sea Shipping Company, Murmansk Sea Shipping Company and Northwestern Sea Shipping Company. Two river shipping companies are also on the list, together with four ports, including stakes in Novorossiysk Seaport and Murmansk Seaport. In the Q210 Russia Shipping Report we forecast growth in the country's maritime sector, as trade volumes look set to begin to recover from the downturn of 2009. Imports and exports are expected to increase by 13% and 2% year-on-year (y-o-y) respectively in 2010, and this will have a knock-on effect at the country's ports, as cargo volumes passing through the ports increase. BMI's shipping team forecasts that one of Russia's main ports, the port of St Petersburg, will experience y-o-y throughput growth in total tonnage of 5.7%, while container volumes are expected to increase by 11.8% in 2010. This is a considerable improvement on 2009 throughput at the port, which due to the downturn in global trade volumes and the decline of Russia's total trade by 25.6% saw the port of St Petersburg's total tonnage fall by 15.9% to 50.4mn tonnes and the facility's container throughput volumes fall by 32.2% to 1,343,675TEUs. BMI's Q210 Russia Shipping Report not only analyses the environment in the Russian shipping market in 2010, but looks at developments going forward into the mid term (2011-2014) and considers whether the country's trade volumes will increase adequately to allow Russia's ports to reclaim their pre-downturn throughput levels. The report also contains an in-depth analysis of one of Russia's main port, the port of St Petersburg. We offer an overview of the port's infrastructure, and consider whether it will be able to cope with cargo growth or whether congestion could become an issue. The port's expansion and development plans are also reviewed, along with the facilitie's links to the rest of the country's freight transport. The Q210 Russia Shipping Report contains detailed company overviews of the top 11 global container lines. Our shipping desk has prepared an analysis of these companies' varying downturn strategies, and we offer our views and predictions on what 2010 holds for these lines. Get Full Details About This Report >> |
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