Russia Launches Port Deepening Project

Russia is investing more than $400 million in a Novorossiysk Seaport expansion and deepening project. Construction is set to begin in the first quarter of next year with completion scheduled for 2020.

Russia hopes to boost container volumes at Novorossiysk by up to 15 percent annually in order to better compete with the Ukrainian’s largest ports. Novorossiysk is Russia’s second-largest port and currently accommodates vessels up to 6, 000 TEUs. Following expansion, the port will be capable of handling 10,000 TEU vessels.

Container throughput at Novorossiysk has fallen by nine percent this year due to falling oil prices, sanctions and the ruble’s decline compared to international currencies. Russia hopes the port expansion, as well as complementary rail and road connections, will entice shippers to call at Novorossiysk rather than Ukrainian ports such as Illichivsk and Yozhny.