Cargo, Lithuania, Oil, Port, Transport

"In the competitive environment, the company achieved stable and high loading results, and the revenue was determined by different oil products and the diverse portfolio, which ensures long-term stability. In July, the company made one of the key decisions in development of the oil terminal – to invest about 50 mln euros in an elevated railway and expansion of new universal containers," Klaipedos Nafta's CEO Mantas Bartuska said.

The company's revenue from oil product loading and other operations at the Klaipeda oil terminal and the Subacius fuel base grew by 4.2 % to 25.7 mln euros in the seven months year-on-year, while income from the LNG terminal went up by 4.8 % to 39.6 mln euros over the period.

In the January-July period, Klaipedos Nafta handled 4.977 mln tons of oil products, up by 28.3%  year-on-year (3.879 mln tons). According to the press release, the main reasons behind the growth of loading operations have to do with handling of more Orlen Lietuva's oil products and increase in the flow of transit cargo from Belarusian plants.

The LNG terminal degasified 10.22 mln megawatt-hours (MWh) of gas in the first seven months of 2016, which indicates a rise by a factor of 3.4 from the same period last year.

The state owns 72.32 % of the company's shares, while 10.24 % are owned by Achemos Grupe. The shares are quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange.