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Container shipping rates surge in Georgia

Transport Materials 20 January 2021 14:56
Container shipping rates surge in Georgia

BAKU, Azerbaijan, Jan. 20

By Tamilla Mammadova – Trend:

Container shipping rates have surged by an average of 50 percent in Georgia, Trend reports via Georgian media.

The sector representatives say that this trend began at the end of last year.

COSCO SHIPPING Lines chief financial officer Givi Chachanidze names China's export volume increase as a reason for a shortage of containers in the world.

"If three months ago the cost of shipping a container from China to Poti made $3,000, today the price has already increased to $10,000. In 2020, China’s export hit a historic record. As a result, the ships were overloaded that caused the increase in tariffs," Chachanidze says.

Some 15.5 million tons of cargo were handled in the ports of Georgia in 11 months of 2020, which is 0.3 million tons less than in 11 months of 2019.

The largest decline is observed in the port of Poti. Cargo turnover in this port of Georgia from January through November decreased by 1.1 million tons and amounted to 6.8 million tons.

The cargo turnover of the port of Batumi increased by 0.2 million tons to 3.2 million.

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