Port of Rijeka Reduced Revenues by 6 Percent

Port of Rijeka d.d. achieved a profit of 1.5 million kuna in the first six months of this year, which is 6 percent less than in the same period last year, and the total cargo traffic in the port of Rijeka decreased by 14 percent, according to data from the company’s management.

In the first half of this year, the port generated total revenues of 85.5 million kuna, while total expenses were 84 million kuna, which represents a revenue decline of 4.9 percent and an expense decline of 6.1 percent compared to the same period last year, as shown by the financial report published by Port of Rijeka on the Zagreb Stock Exchange.

Port of Rijeka notes that its total operating revenues in the first half of the year amounted to 83.7 million kuna, of which 55 percent was generated in foreign markets.

According to information from the port, the total cargo traffic of Port of Rijeka and Adriatic Gate Container Terminal (AGCT) in the first six months was 1.93 million tons, which is 14 percent less than in the same period last year when a total of 2.2 million tons of cargo was transshipped.

AGCT is the concessionaire of the Brajdica container terminal, in which 51 percent of the shares are held by Filipino partners, and 49 percent by Port of Rijeka.

In the first six months, the traffic of the container terminal increased by 12 percent and the traffic of general cargo by 14 percent, while the traffic of bulk cargo decreased by 45 percent and timber by 6 percent.

The management of the port emphasizes that the market trends from the first quarter also marked the first half of the year.

The traffic of bulk cargo is lower compared to the same period last year mainly due to reduced iron ore traffic in Bakr, noting that the iron ore traffic for the largest partner from Hungary has decreased, which is undergoing regular annual maintenance of the blast furnaces.

They also explain that the traffic of timber in the first six months of this year is lower due to the unstable political situation in markets that are commercially significant for this type of cargo, primarily in Egypt.