Cargo, Estonia, Port, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 22.08.2019, 16:40

Estonia: Baltic Maritime Logistics Group completes Muuga-based bulk operator acquisition

BC, Tallinn, 07.08.2019.Print version
Baltic Maritime Logistics Group AS (BMLG) completed the acquisition of the bulk cargo operator OU Stivis based in the port of Muuga, Estonia's biggest cargo port situated just outside Tallinn, informed LETA/BNS.

Stivis is an operator based in the port of Muuga which provides the services of loading, unloading and storage of goods. Stivis is an operator of bulk cargoes, including crushed limestone, peat and grain. The company mainly handles local import and export goods, and effectively no transit goods.

It does not offer the container terminal service or the service of handling oversized or ro-ro freight. 

Stivis owns approximately 4.5 hectares of storage areas and 0.5 hectares of enclosed warehouses behind the quays. The company has four kilometers of railways and ships can be unloaded directly into rail cars.

BMLG said in the notice of consolidation that the reason for the acquisition is the wish to expand business and make it more productive and effective.

It appears from the decision of the Competition Authority that the volume of goods handled by BLMG's Kunda port and Esteve AS in the Paldiski South Harbor made up 5-10% of the volume of goods flows passing through Estonian ports, while the volume of goods handled by Stivis was 0-5 %.

The beneficial owners of Stivis are Anatoli Lipinski, Jan Lipinski and Galina Lipinski.

BMLG is a group of companies established in 2000 that brings together a number of operators active in the field of logistics in ten countries: Estonia, Latvia, Lithuania, Poland, Finland, Cyprus, Malta, Belarus, Russia and Kazakhstan. 

BMLG's consolidated revenue in 2018 totaled 169.1 mln euros and net profit 14.6 mln euros.

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