Baltic States – CIS, Energy, Good for Business, Lithuania, Oil, Transport

The reason for the transhipment increase in March 2015 is that more petroleum products were delivered by SC Orlen Lietuva and agreed for the additional petroleum products from Belarus owned by the Belarusian Oil Company (BNK), Klaipedos Nafta reports.

During the first quarter of 2015, the company reloaded 1.498,000 tons of oil products into its storage tanks, by 31.8% more compared to the same period of 2014 when 1.137,000 tons were reloaded.

In March, in the Liquefied Natural Gas (LNG) Terminal of the Company, a LNG carrier has been accepted which delivered 65,950 tons LNG and 518 thousand MWh (total during the first three months of 2015 1.399,500 MWh) of the natural gas were re-regasified and supplied to the natural gas transmission system (this activity started to be carried out on 27 November 2014).

The preliminary sales revenues of the company's Oil terminal and Subacius fuel base for March comprise EUR 3.2 million (LTL 11.1 million); by 0.5% more compared to March 2014 (i.e. EUR 3.1 million/LTL 10.7 million).

The preliminary sales revenues of the company's LNG Terminal for March comprise EUR 5.4 million (LTL 18.6 million), which is equal to the one twelfth of the sum of necessary LNG Terminal operation costs and return on investments into LNG Terminal infrastructure for the year 2015, approved by the National Commission for Energy Control and Prices.

The preliminary sales revenues of Klaipedos Nafta Oil terminal and SFB for the first quarter of 2015 comprise EUR 10.4 million (LTL 35.9 million) – by 16.9% more compared to the same period of 2014 (EUR 8.9/LTL 30.7 million).

Total preliminary revenue of the company for the first quarter of 2015 comprise EUR 26.6 million (LTL 91.8 million) while for the same period of 2014 it was EUR 8.9 million (LTL 30.7 million).

The annual meeting of shareholders of the company Klaipedos Juri Kroviniu Kompanija (KLASCO), which is a part of the concern Achemos Grupe, also approved activity results in 2014.

Total income from the main activity amounted to EUR 44.3 million and gross profit was EUR 25.584 million. EUR 4.054,680 million or EUR 0.32 per share before taxes was allocated for payment of dividends.

In 2014, the major stevedoring company has handled 12.2 million tons of cargo and the turnover was very slightly lower compared to 2013, when it reached 12.4 million tones. In 2013, the company generated EUR 44.9 million of income and EUR 8.3 million of profit, KLASCO said.

"Marine trade tends to develop in cycles. We expected that cargo and income rates in 2014 will be similar to those in 2013. However, the applied sanctions caused a slowdown of East-West trade, which affected our Ro-Ro terminal activity and its indicators have declined since summer. Turnover of fertilisers, bulk grain and general cargo remained similar to the previous year. Tariffs are determined by the contracts concluded and the competition; loss of income may be compensated only through attraction of new cargo and this is our objective today," says Audrius Pauza, director general of KLASCO.

Last year, KLASCO started operating a new bulk mineral fertiliser terminal. Investment in this project amounted to over EUR 20 million. New phase of investment is projected for 2016-2018. At the end of 2014 the company employed more than 720 employees.