Substantial Reduction

Substantial Reduction

Services that called St. Peterburg iwere operated by COSCO , Maersk , MSC and Samskip , Containerships (CMA CGM), Hapag-Lloyd and X-Press Feeders, stopped all their connections. The number of visits is likely to go down even further when all vessels that were already on their way have discharged their cargoes. Not all carriers are likely to withdraw all their services, as some , like Unifeeder, continues to transport containers . Fewer ships are also visiting Russia’s Far East ports, but the reduction there is much more limited. According to HMM, however, volumes in this trade have declined so much that it is no longer worth calling there. Therefore, it will stop serving Vostochny and Vladivostok (via slots form FESCO). APM Terminals has decided to sell its shares in Russian port operator Global Ports, in which it ultimately holds 30.75% and which it bought in 2012 for USD 173 million. Global ports is involved in four Russian container terminals, FCT and PLP in St. Petersburg, ULCT and Vostochny Container Terminal, and is a partner in Multi-Link Terminals, which operates facilities in the Finnish ports of Kotka and Helsinki.There are two more European terminal operators involved in Russia. These are Eurogate, in Ust-Luga Container Terminal, and MSC’s Terminal Investment Limited, in CTSP . They have so far not disclosed plans for their Russia possessions yet.

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Substantial Reduction

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