China has significantly increased tariffs for project cargo transportation to Russia and Belarus. Rail transport tariffs have risen by at least US$500, an increase of about 5-10 per cent. Sea transport rates have also surged, with increases ranging from 15 to 25 per cent and, in some cases, up to 50 per cent.

In March 2024, the Russian business newspaper Kommersant reported a sharp rise in project cargo transportation prices from Central Russia to the East and vice versa, primarily via rail.

According to shippers and transport companies, the price hikes affect all types of cargo between China, Russia, and Belarus, with the most substantial increase observed for super-heavy cargo.

Despite the tariff increase, demand for transportation on this route remains high, especially from Russia, where China is its main economic partner.

Analysts anticipate that tariffs will continue to rise in the second half of 2024, which may add pressure on project cargo traffic between Asia and Russia. However, a sharp drop in demand is unlikely.