Increased Cargo Throughput at Ventspils Port in Q1 2025

Ventspils, Latvia – April 15, 2025 – The Ventspils Free Port reported a 1.5% increase in cargo turnover during the first quarter of 2025, achieving a total of 2.38 million tons, according to a statement released by the port's press service.

Significant Gains in Oil Products

The most notable contributor to this growth was the handling of oil products, which surged by 79% to reach 1.3 million tons. This increase underscores a recovering demand within the sector, mirroring stabilization in the broader Scandinavian market.

Trends in Cargo Handling

In addition to oil products, the port processed a diverse range of cargoes during the January to March period. This included significant volumes of timber, which encompassed wood pellets, chips, and sawn timber. Agricultural products such as biodiesel, palm and sunflower oils, grains, malt, rapeseed, and peas were also handled, along with liquid bulk goods like chemicals and peat.

Decline in Coal Volumes

Conversely, coal handling experienced a dramatic decrease of 46.5%. This decline was anticipated due to the inclusion of manganese ore in the European Union's sanctions list. Both coal and manganese ore relied on the same rail wagons for transportation, leading to the observed drop in coal volumes.

Increased Ferry Traffic

The ferry line connecting Latvia and Sweden saw an increase in cargo volumes, which rose by 22% as the regional market begins to recover from recent economic downturns.

Historical Context

The Ventspils Free Port is the second largest port in Latvia concerning cargo throughput and serves as one of the country's major industrial hubs. In 2024, however, the port's total cargo turnover decreased by 21%, amounting to 8.23 million tons, highlighting the challenging market conditions faced by the port in recent times.

Conclusion

The positive trends observed in the first quarter of 2025 signal potential recovery in several sectors for the Ventspils Free Port, following a challenging previous year. Ongoing monitoring of market conditions and operational strategies will be critical as the port aims to sustain this positive momentum throughout the year.

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