The Russian government has revealed plans to build a new deep-sea port between Lithuania and Poland on the Baltic Sea.
Located at Kalingrad, the port will include a container terminal with a capacity of 38.6m tonnes, a bulk cargo terminal with a capacity of 5.4m tonnes, and a roll-on, roll-off terminal.
Go deeper with GlobalData
The proposed port will be able to handle ships with capacities of up to 8,000TEU’s, reported Crewing.in.
Work on the new deep-sea port is expected to begin by the end of 2015.
The decision follows the government forecast of Baltic container trade to grow 15% per year until 2018.
The port is intended to be a regional feeder hub and may reach a depth of 19.2m, surpassing other deep-sea ports in the region including ones at Gdansk, Klaipeda, Poland and Lithuania.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe entire project is estimated at $950m, of which around $750-800m is anticipated to come from private investors.
However, volumes are anticipated to increase in the coming years as the port is ice-free equidistant to ports in western and northern parts of Europe and the Russian government is making necessary plans to facilitate this projected boom in trade.
According to Association of Sea Commercial Ports (ASOP), the cargo turnover across Russian seaports totalled 567.1m tonnes in 2012.
The seaports in the Baltic, Azov-Black Sea and Pacific regions handled 36.6%, 31.2% and 23.6% of cargo turnover, respectively in 2012.
