Energy, Investments, Latvia, Port, Transport

The port’s spokeswoman, Inga Ievina, told LETA that transit of oil products and coal had declined steeply year-on-year, affecting the total cargo turnover at Ventspils.

The cargo turnover of Ventspils Nafta Terminals contracted by 1.5 million tons or 27% to less than half of the terminal's capacity, and the cargo turnover of Baltic Coal Terminal was down 609,000 tons or 45% compared to January-May 2015, also to less than half of the terminal's capacity.

Kalija Parks reloaded just 95,000 tons in the first five months of 2016, although its monthly capacity is 500-600 thousand tons. Cargo turnover fell 32% year-on-year at Ventspils Tirdzniecibas Osta and 60% at Ventall Terminals. Cargo handling by Ventbunkers dropped 3% with the terminal operating at barely one-third of its capacity.

Ventspils Grain Terminal improved its performance compared to last year, reloading 192,000 tons of grain in January-May this year, but still uses only one-third of its capacity.

Ventplac increased cargo handling by 19% or 33,000 tons year-on-year, using half of its capacity, Ventamonjaks Serviss reloaded by 15% more cargos than in January-May 2015, and Ventamonjaks showed a 13% increase in cargo turnover.

The amount of freight carried by ferries continued growing and, as a result, Noord Natie Ventspils Terminals raised its cargo turnover by 63,000 tons or 6%.

A new quay leased to Eurohome Latvia became operational at Ventspils port in April and the first cargo – 52,000 tons of cast iron – was shipped from it in May.

Although the Ventspils port has to reckon with a significant reduction of its income due to performance of certain terminals, it nevertheless plans investments in infrastructure also in 2016 with EUR 8 million earmarked for the investment program in the port’s budget. Some of the projects will be co-financed by the EU Cohesion Fund.

In May 2015, cargo turnover at Ventspils port was 1.4 million tons.