News

Q2 and H1 2025 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 Q2 and H1 2025.

After growing by 2.5% y-o-y in Q1 2025, Russian marine container market decreased by 4.6% y-o-y in Q2 2025 and amounted to 1,337 thousand TEU. The slowdown in consumer demand and the strengthening of the Russian rouble had a restraining effect on the dynamics of laden import and export. In Q2 2025, container throughput decreased both in the Baltic basin (-3.1% y-o-y) and in the Far East basin (-12.9% y-o-y), which was partially offset by an increase in container throughput in the Azov-Black Sea Basin by 13.4% y-o-y. As a result, in H1 2025, Russian marine container market decreased by 1.1% y-o-y to 2,713 thousand TEU.

In the reporting period the dynamics of consolidated container throughput of the Global Ports’ marine terminals was at the market level or slightly better than the market. The Holding's marine container throughput decreased by 4.6% y-o-y to 259 thousand TEU in Q2 2025 and by 0.9% y-o-y to 563 thousand TEU in H1 2025.

In the Baltic basin, the Holding continued to outpace the market in terms of growth rates. Container throughput at Global Ports’ marine terminals in the Northwest Russia increased by 4.8% y-o-y in Q2 2025 (against a decrease in the region by 3.1% y-o-y) and by 20.8% y-o-y in H1 2025 (against growth in the region by 4.7% y-o-y).

Global Ports' consolidated marine non-containerised cargo throughput continued to grow steadily and amounted to 1.7 million tonnes in Q2 2025 (+11.3% y-o-y) and 3.4 million tonnes in H1 2025 (+3.6% y-o-y). The Holding continues to increase fertiliser throughput at its marine terminals in the Baltic basin (+25.4% y-o-y in H1 2025), gradually reducing less-marginal coal handling (-45.5% y-o-y over the same period).

Management comment:

The container market slowed down in Q2 2025 in the main segments - laden import and export - and in the key basins of Global Ports presence - the Far East and the Baltic. However, the dynamics of the Holding's container throughput in H1 2025 was slightly better than the market as a whole and significantly better in the Baltic basin.

We continued to enhance non-containerised cargo throughput, increasing the utilisation rate of our container terminals’ capacity and expanding our cargo base due to the long-term export flow of fertilisers. Our advantage is the usage of container technology while handling non-containerised cargo, and we plan to continue to expand our capabilities.

In the context of slowing consumer demand and the strengthening of the Russian rouble, the container market may remain under pressure during the Q3 2025, both in laden import and laden export. < Back to list