DSR planning Baltic container terminal foray

German shipping group DSR is planning three Baltic Sea container terminals, including one in the Latvian capital Riga, as the company expects container traffic on the Baltic to quadruple in the future.

German newspaper Ostsee-Zeitung quoted DSR's Chief Executive Officer Horst Rahe as saying the group is considering how to expand its port network in the region over the next seven to 10 years. DSR, the former state-run shipping line of communist East Germany, has turned to real estate and passenger cruises for revenue the past two decades, but is eyeing a return to cargo shipping.

Rahe, however, said DSR's expansion plans had been delayed by the high market price of ships, with a minimum of 20 ships needed for an economic shipping line, the newspaper said. 

Source: American Shipper