• 2016 September 13 09:40

    KPMG Baltics will audit the Freeport of Riga Authority

    On August 31, 2016, the Freeport of Riga Board has decided to employ an independent international company KPMG to audit the Freeport of Riga Authority financial statements and consolidated financial statements and prepare the auditor's report. The contract on auditing financial statements will be signed for the next three years, says press center of FRA.

    “The KPMG is one of the leading providers of financial audit services in Latvia and the world. In previous years we have audited both Riga and Tallinn ports, as well as other leading European ports.  We carry out the research on port and transport sector developments in the Baltic region on the regular basis. The KPMG specialists work in compliance with the highest international standards of financial auditing and accounting and therefore we will continue  to provide a reliable assessment of the Riga port financial performance, based on international practice “, says Ms. Armine Movsisjana, KMPG Baltics Managing Partner.  

    “In order to address various critical public statements of certain state institutions, which are usually based on general assumptions without going into specific details, related to the port operation and governance, and behind which, most probably, there are various political and economic interest groups, we have involved international auditors with appropriate expertise and impeccable reputation to evaluate the Freeport  performance.  For example, currently the functional audit as well as the audit of the Freeport organizational structure is being performed. Recently the audit of the legality of the Freeport of Riga Authority officials’ operation has been completed and, incidentally, no sensational violations or embezzlement of funds have been detected. As for the Freeport financial audit – we will continue our cooperation with the KPMG Baltics, whose experience, expertise and reputation leaves no doubt,” says Mr. Leonids Loginovs, the Freeport of Riga CEO

    The contract with the international financial audit company KPMG will be concluded on the basis of the Cabinet Regulations   No. 378 “The Freeport of Riga Authority Regulations” of 29 May 2012 and the Law “ On the Annual Financial Statements and Consolidated Financial Statements”

    On July 15, 2016 the Freeport of Riga Board at its extraordinary meeting decided to carry out a comprehensive audit and assessment of the Freeport of Riga Authority functions and organizational structure, the audit is to be performed by the international audit company Deloitte. The contractual work is to be completed by September 30, 2016.

    Besides, Deloitte has recently completed the audit of the legality of the Freeport of Riga Authority officials’ operation in regards of decisions, made during different time periods from 2009 to 2012, determining the Authority officials’ liability limit and preparing a relevant report. In the framework of the independent auditor's report the actual essence of the transactions between the Freeport of Riga Authority and Liepaja Maritime College, the Freeport of Riga Authority and the International Association of Ports, the payments to the Freeport employees, as well as supporting documents and decisions’ legality were evaluated.

2019 October 21

18:25 Navios Acquisition announces $15 mln offering of common stock
18:02 Temasek subsidiary plans to acquire 30.55% of shares in Keppel
17:50 Two LNG-powered Sovcomflot tankers successfully completed voyages along Northern Sea Route
17:36 Anglo-Eastern signs Cyber MOU with Naval Dome
17:13 Guard ship "Yaroslav Mudry" of RF Navy’s Baltic Fleet made business call in Limassol
17:05 Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live
17:02 Castor Maritime announces vessel acquisition
16:40 Yaroslavsky shipyard launches diving ship '75 Let Pobedy’ built for Transneft UW Service
16:21 Ministerial Conference pushes ratification of Cape Town Agreement
16:16 ACO Marine secures order to design and manufacture a Clarimar MF-3 biological wastewater management system for installation to the luxury yacht
16:09 ABB to bring autonomous technology to the Port of Singapore
16:02 Hunter Group ASA announces delivery of Hunter Saga
15:39 TransContainer reports 9M’19 net profit of RUB 10.426 million, up 68.3% YoY
15:02 Epic Gas completes major refinancing of twenty ships
14:47 Port of Baku becomes first Green Port in Caspian region
14:13 Sulphur 2020: stakeholders prepare for a sea change from 1 January 2020
13:52 USPA starts accepting applications for participation in concession tender of “Olvia Stevedoring Company”
13:34 ABP is ‘calling on all UK technology companies’ to drive innovation
13:13 Innovative vessels visit port of Brussels
12:39 Ports of Antwerp and Zeebrugge initiate merger negotiations
12:12 Aker Solutions and EDP Renewables to develop floating wind farm in Ulsan, South Korea
11:55 Port of Singapore throughput in Jan-Sep’2019 declined by 0.5% to 467.9 million tonnes
11:36 Port of Rotterdam posts Q3 2019 results
11:19 Container throughput of port Hong Kong (China) down 6.5% to 13.68 million TEUs in Jan-Sep’2019
11:00 CMA CGM launches SHIPFIN TRADE FINANCE, its new range of import and export financing solutions
10:48 Port of Helsinki volumes in January-September down 3.3% to 11.16 million tonnes
10:33 Damen partners with Maris to consider seaweed solution
09:51 One-stop principle is crucial for yachting development in Russia - Igor Levitin
09:30 Brent Crude futures price is down 0.29% to $59.25, Light Sweet Crude – fell by 0.13% to $53.8
09:24 MABUX: Bunker market this morning, Oct 21
09:12 Baltic Dry Index is down to 1,855 points

2019 October 20

16:05 EDPR and Aker Solutions to develop 500MW floating wind farm in Ulsan, South Korea
15:25 Coast Guard updates port conditions in Gulf Coast region
14:47 Siemens Gamesa bags three new contracts for 359 MW in Chile
13:41 Fincantieri begins project for stretching three small cruise ships of Windstar
12:34 MSC introduces new Spanish rail service for reefer cargo
11:03 USCG, Mexican Navy search for overdue aircraft in Gulf of Mexico
10:12 DOE authorizes LNG exports from the Venture Global Plaquemines LNG Project

2019 October 19

16:12 Bibby Marine appoints Helen Samuels to lead the company into its next phase of development
14:58 Med Marine is building new concept ice class tugs for Svitzer
12:34 Sohar Port & Freezone inaugurate new Svitzer pilot boat duo
11:44 USCG offloads more than $92 million worth of cocaine in San Diego
10:49 Singapore company slapped with NOK 7 million fine in the Harrier case

2019 October 18

19:19 New port icebreaker named Ob delivered to FSUE Atomflot
18:54 Port Kolomna hosted ceremony of consecration for pusher tug named Sergey Kladko
18:31 RF Ministry of Transport to expand area banned for navigation near Crimea bridge
18:12 Northwest Seaport Alliance’s Clean Truck Program earns AAPA environmental award
17:57 NUTEP Container Terminal handled three millionth TEU since its operations started in 2004
17:38 Expert RA affirms its ‘ruA’ non-financial company credit rating on DeloPorts
17:13 Port of Virginia buys 25 new hybrid shuttle carriers
17:00 First grain shipment via Sabetta port expected in July 2020 – RF Ministry of Agriculture
16:46 Onezhsky Shipyard delivers buoy tender of Project 3265 named Ladozhsky
16:20 ERMA FIRST invests in METIS Cyberspace Technology
15:45 International organizations unite at IMO
15:14 "K" LINE, MOL, & NYK share data with ONE through the common data platform "IoS-OP"
14:49 Main engines loaded onto lead ship of PV22 project at Nevsky Shipyard
14:12 ESPO publishes European port sector’s Environmental Report 2019
13:53 Blagoveshchensk shipyard resumed construction of modernized seiners of Project 1338
13:32 Total launches its first LNG bunker vessel
13:12 SBM Offshore successful bidder for partner’s minority ownership in SBM Offshore operated FPSO companies