Employment, Energy, Estonia, Oil, Transport

"The cargo volume of our terminals in recent years has been affected by the complicated general operating environment and the increased competition due to Russia's new terminals," Vopak E.O.S.. Board Chairman Arnout Lugtmeijer said.

Due to that, Vopak E.O.S. initiated an optimisation plan that will be implemented during the year 2014. This process includes relocation and cuts of staff, reduction of general expenditures and optimisation of maintenance costs and investments, said Lugtmeijer.

Vopak E.O.S.. Ltd. is the largest independent oil products terminal operator in the Baltic states. Vopak E.O.S.. Ltd. operates four modern terminals with a total storage capacity of 1,026,000 cbm. Vopak E.O.S.. is a joint venture established by Royal Vopak and Global Ports. It has around 500 employees.