Decline of cargo turnover at Rīga Freeport less than expected

As the Rīga Gulf has not frozen yet, the Riga Freeport will lose around 8% rather than the previously estimated 10% of its cargo turnover this year, the port's board chairman Andris Ameriks told LTV Wednesday.

The decline in cargo turnover was initially estimated to reach about four million tons, but it seems it might be around three million instead, said Ameriks. 

"A million tons means €10m for the economy," said Ameriks.

He said that oil products are being shipped less from Russia, which uses its own ports and has recently started shipping to Turkey.

However Ameriks was hopeful over cooperation with China, which might serve as an alternative, the politician said.

While no one would "bring this offer on a tray", Riga and Latvia have a good offer with its ports and railways, said Ameriks.

Within the first ten months of 2016, the Rīga Freeport turned over 30.4 million tons of cargo, which is an 8.8% decrease on year.

Economy
Economy