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Global Ports Q1 2026 Operational Results

International Joint-Stock Company Global Ports Investments (‘Global Ports’ or the ‘Company’, together with its subsidiaries and joint ventures – the ‘Holding’, part of the Delo Group) today announces its operational results for Q1 2026.

In Q1 2026, the Russian marine container market decreased by 3.9% y-o-y and amounted to 1,322 thousand TEU. The dynamics were uneven across basins.

The Baltic basin experienced severe ice conditions during the first two months of the year, leading to shipment delays and prompting customers to shift their focus to other available basins and alternative transport types. Consequently, in Q1 2026, container throughput in the Baltic basin, where most of the Holding's terminals are located, decreased by 11.6% y-o-y to 407 thousand TEU.

Container throughput in the Far East basin increased by 1.4% y-o-y to 581 thousand TEU in the first three months of the year due to a shift in demand from the Baltic basin. Towards the end of the quarter, demand in the Far East began to strengthen due to instability in global marine logistic chains.

In Q1 2026, the Holding’s consolidated marine container throughput decreased by 15.2% y-o-y. The Far East terminal significantly outperformed the regional market, recording a 17.7% y-o-y increase in container throughput. Contrariwise, container throughput at Global Ports’ terminals in the Baltics decreased by 29.2% y-o-y due to severe ice conditions and forced temporary shift in container handling demand to available terminals and alternative transport types and routes. In March 2026, the weather in the Baltic Basin improved, so container throughput at the Holding's terminals in the Northwest increased by 8.0% compared to March 2025.

As the Holding transitioned away from coal handling in favour of higher-margin cargo types (in particular, fertilisers), consolidated non-containerised cargo throughput decreased by 20.4% y-o-y in Q1 2026, reaching 1.4 million tonnes. Fertiliser handling in the Baltic Basin also came under pressure due to unfavourable ice conditions, falling by 7.3% y-o-y.

Amid the instability of global marine logistic chains, management expects strong demand for container throughput in the Far East and moderate demand in the Northwest to persist in the coming months.

Key operational information:



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