Global Ports’ profits slashed as Russian economic slowdown continues

Russia’s largest container terminal operator, Global Ports, has announced a 53% fall in pre-tax profit in the six months to the end of June compared to the first half of 2014.

Its profit before tax plummeted from US$96m in the first six months of 2014 to US$45.2m in the first half of this year.

Container throughput decreased by 32% year-on-year to 834,000 teu in the first six months of 2015 from 1.2m teu in the first half of 2014.