Economics

15:25, 20.06.2008 | Primorye Territory

Commercial Port of Vladivostok increased cargo shipments 64% to 2.663 million tonnes in January-May 2008 compared to the same period of 2007, the port's press service informed.

The increase in shipments was mainly the result of a 31.7% rise in container shipments to 99,042 tonnes and metallurgical products.

The port increased exports more than 100% to 1.516 million tonnes in January-May.

Exports of metal and hardware totaled 1.095 million tonnes due to an active increase in demand for steel products from Southeast Asian countries.

The port increased imports 22% to 702,100 tonnes in the quarter. Coastal shipments grew 29% to 445,200 tonnes.

Commercial Port of Vladivostok increased cargo shipments 20% to 4.856 million tonnes in 2007.

M-Port is the main shareholder in Commercial Port of Vladivostok with a 95.1995% stake. Port Aktiv, controlled by the port's management, and FESCO each own a 50% stake in M-Port's charter capital.