Port of Riga, Latvia, Reports Forestry and Timber Industry Products Largest Group Transshipped in 2022
Forest Products Boom for Riga
According to Dry Cargo International (4-11-23), the Port of Riga, a major port on the east coast of the Baltic Sea in the capital of Latvia, reported forestry and timber industry cargo were the largest cargo group transshipped through the port in 2022.
The cargo was being handled at 15 stevedoring company terminals, and the 2022 transshipments included 5.5 million tons of wood products which accounted for 23% of the total cargo passing through the port.
The situation in the forest and timber industry sector of Latvia, as well as in the global markets, is accurately reflected in the performance indicators at the Port of Riga. In 2022, there was a 12% drop, but at the same time the growth indicators for the turnover in various cargos were different. For example, the volume of wood ships transshipped in the Port of Riga in 2022 increased 11% when compared to 2021. On the other hand, 2.09 million tons of wood pellets were transshipped last year, down 28% from 2021.
According to Kristaps Klauss, Vice President of the Latvian Forest Industry Federation, 2022 was a challenging year for all sectors. Klauss told Dry Cargo International that:
“All changes in the industry markets in 2022 are unequivocally caused by the Russian war in Ukraine. Before the war, Russia, Belarus, and Ukraine provided Europe with 60% of birch plywood consumption, 10% of conifer board consumption, and one third of pellet market volume.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.