Vessels of this scale are not currently serviced in ports on the east coast of the Baltic Sea and, thus, this is an opportunity that would offer the City of Riga major business advantages, not only in relation to the ports of the Baltic States, but also in relation to the ports of Russia.

“Globally, even larger vessels are used for cargo transportation by sea. The aim of carriers to reduce transportation costs is the main cause for the continuously increasing dimensions of vessels. This is especially important for bulk cargo, for example, in the segment of coal and metal ore where the use of larger vessels ensures a more economical freight rate per each transported ton," stated Ansis Zeltiņš, CEO of the Freeport of Riga Authority.

Only the largest deep-sea ports and specially built terminals can handle vessels due to their wide dimensions and draught capacity. In order to accommodate large bulk carriers, modern land-based infrastructure is currently available at the Port of Riga, while cleaning the main navigation canal near the port access gate and the navigation canal opposite Krievu Island is important to ensure safe accommodation of capesize vessels.

In 2019, more than 30 million tons of coal were transported by Panamax vessels from ports located on the east coast of the Baltic Sea to markets outside Europe, Asia, South America , and the Middle East that are already servicing capesize vessels, based on the information summarized by the Freeport of Riga Authority and port merchants. With the ability to accommodate such vessels in Riga, a portion of the volume of cargo could compete with the port.

Maritime Business World