Shipping Firms Pull Back from Hong Kong to Skirt US-China Risks
Some shipping companies are discreetly moving operations out of Hong Kong and taking vessels off its flag registry. Others are making contingency plans to do so.
MOSCOW, Dec 13 (Reuters) – Russia launched the country’s first ammonia sea terminal at the port of Ust-Luga on Friday, aiming to increase export capacity amid Western sanctions.
Previously, Russia exported ammonia using the Baltic sea ports and a pipeline which connected the Russian city of Togliatti with the Ukrainian port of Odesa, but access to western ports as well as to the pipeline, was cut off for Russian suppliers by sanctions.
The terminal was built by Russian fertiliser producer Eurochem, according to its 2023 financial report. The launch of the terminal was announced by a company called Port Alliance, whose owners have not been disclosed.
The total production capacity of the terminal, which is designed for all types of fertilisers, will amount to 14 million metric tons, according to the Leningrad region administration’s statement on Friday.
The shortage of port facilities for dangerous chemical goods in Russia is about 6 million tons per year, according to Russian authorities.
(Reporting by Anastasiya Lyrchikova and Gleb Stolyarov, Editing by Louise Heavens)
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