Energy, Latvia, Oil, Port, Transport

The port’s spokeswoman, Inga Ievina, told LETA that that two of the terminals operating in the Ventspils port had suffered a significant decline in cargo turnover year-on-year which affected the results of the port in general.

The cargo turnover of Ventspils Nafta Terminals shrank 39% last year, accounting for less than 50% of the terminal's capacity. Baltic Coal Terminal saw its cargo turnover decline 79% from January 2015, operating at less than one third of its capacity in January 2016.

Kalija Parks reloading only 3,000 tons of carbamide in January 2016 which is minimal activity, considering its capacity. Cargo handling dropped 19% for Ventspils Tirdzniecibas Osta, 50% for Ventamonjaks, 14% for Ventall Terminals and 1% for Noord Natie Ventspils Terminals.

Meanwhile Ventbunkers boosted its cargo turnover 88% year-on-year in January 2016 to 286,000 tons of oil, although this is only a half of the terminal’s capacity. Ventspils Grain Terminal reloaded 30,000 tons, which is one-fourth of its capacity but much better than the terminal’s very modest results last year, said Ievina. Ventplac increased its cargo handling by 48%, which accounts for half of its capacity.

Although the port’s administration has to reckon with a significant reduction of its income due to performance of certain terminals, it nevertheless plans investments in infrastructure also in 2013, the spokeswoman said, adding that EUR 7.3 million have been earmarked for the investment program in the port’s budget. Some of the projects will be cofinanced by the EU Cohesion Fund.