In the first quarter of 2023, we grew our cargo volumes by 2% to 1.433 million tonnes, compared to 1.403 million tonnes in the same period in 2022.  

                        

"At the end of last year, we saw the first signals of a decline in exports, and the first quarter of this year confirmed it, but despite the downward trend in exports, KCT has worked steadily and has maintained similar cargo volumes as in the first quarter of 2022," says Vaidotas Šileika, CEO of our terminal.

 

In January-March, the terminal handled more than 114,000 TEU of containers, which is 17% more than in the same period of 2022. "If we analyse the statistics of container handling, the overall container handling in the port is growing, but if we take a closer look at the container segments, we can see that imports of full containers are growing, while their exports are decreasing. As a result, empty containers are piling up at the terminal," he shares his insights.

 

According to Mr Šileika, the increasing number of empty containers at the terminal signals a slowdown in the economy. "There are several reasons for the accumulation of empty containers at the terminal: declining production volumes, which means that export containers are not filling up, and a decrease in the transit of goods through the Port of Klaipėda, which used to have a significant impact on export volumes," the manager says. Currently, more than 6,000 empty containers are stored at the KCT terminal.

 

According to Mr Šileika, container traffic is one of the indicators of a healthy economy, and if we see increasing import flows in a country, it means that consumption is high and production is at a relatively high level. 

 

In Q1, 302 vessels were handled at KCT terminals, which is 45 more than in the same period in 2022. "The increase in the number of ships is a good signal, but ship sizes are changing. Small ships are arriving, which once again signals an economic slowdown," says Šileika.

 

KCT belongs to the Klaipėda Terminal Group, which unites companies providing cargo handling, logistics, freight forwarding and ship agency services. KCT employs 280 people and has a total handling capacity of up to 7.5 million tonnes of cargo per year.