• 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 July 20

11:37 USCG responds to oil slick near Port Aransas, Texas
10:56 Wallem introduces cloud-based software for simpler workflows

2019 July 19

18:10 NYK holds fleet safety promotion conferences for shipowners and ship-management companies
18:04 Incat Tasmania exports new 111 metre ferry to Spain
17:49 World's largest air-cushioned landing craft takes part in Navy Day parade rehearsal in Baltiysk
17:25 Caspian Flotilla ship crews prepare for Naval Parade
17:03 FortisBC secures first export contract for Tilbury LNG facility
16:22 Project documentation for construction of Nizhny Novgorod hydroengineering facility completed - Victor Vovk
16:03 CMA CGM announces GRR from Asia to East and South Africa
15:50 East Mining Company to invest RUB 11.5 billion in development of its coal project in Sakhalin
15:33 Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari
15:12 Cargotec posts financial report for January–June 2019
14:47 Blagoveshchensk shipyard completed state trials of hydrographic survey vessel of Project 19910
14:33 NYK recognized for implementation of advanced navigation support tool
14:12 Global Ship Lease announces new charter agreement
13:51 150 graduates of Moscow State Water Transport Academy awarded with diplomas
13:30 RF Government includes NOVATEK’s LNG terminal project into area planning scheme
13:12 Port of Long Beach releases draft Master Plan update
13:07 Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers
12:24 USCG finds federal fisheries violations aboard 5 recreational fishing vessels
12:11 IMO Council condemns tanker attacks in Strait of Hormuz and Sea of Oman
11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points

2019 July 18

18:05 Future expectations for MPS Terminal 3 in the port in Tema outlined with Government delegation
17:24 PGNiG acquires interest in another gas field in the North Sea
17:18 DNV GL supports 2020 sulphur compliance with online Ship Implementation Plan
17:05 OOCL announces new Middle East / Indian Subcontinent – North Europe Service
16:35 Consortium including DEME and Jan De Nul explores pioneering high-wave offshore solar technology
16:07 Large maritime market players join hands to create high-wave offshore solar panels
15:52 State Duma makes it easier for foreign tourists to visit Russia’s Arctic
15:35 Incat Tasmania delivers new 111-metre ferry to Spain operator Naviera Armas
15:18 Hapag-Lloyd launches South-East India – Europe Express Service // IEX to start operations in October 2019
15:01 Operation ATALANTA welcomes ESPS CANARIAS
14:26 Bunker prices are slightly down at the Far East ports of Russia (graph)
14:00 Diana Shipping announces time charter contract for m/v Selina with Ausca
13:44 PortNews Media Group's anniversary celebration photo release
13:22 Aleksey Khaidukov as President of Novoship
13:00 Global Ports Holding invites proposals for Duty Free and Travel Retail operations at Malaga, Zadar, Cagliari and Catania cruise ports
12:47 East Mining Company eyes arranging offshore transshipment of coal in Kamchatka under Tata project
12:09 Wärtsilä posts financial results for January-June 2019
11:53 Construction of LNG-powered icebreakers to be financed by NOVATEK – Vyacheslav Ruksha
11:31 RF Deputy PM Maksim Akimov set a task to begin dredging in the Gulf of Ob not later than on 1 August 2019
11:09 Port of Muuga strengthened with new ferry connection to Finland
10:48 Primorsky MRC terminal to offer fully closed transshipment of loose cargo
10:30 MAN Energy Solutions gets subsea compression FEED order from Chevron
10:09 Port of Lowestoft names new state-of-the-art pilot boat
09:56 MABUX: Bunker market this morning, July 18
09:50 APM Terminals Callao launches Peru’s first digital customer platform
09:34 Brent Crude futures price is up 0.17% to $63.77, Light Sweet Crude – up 0.02% to $56.79
09:16 Baltic Dry Index is up to 2,064 points

2019 July 17

18:13 USCG responds to boat collision, assists 4 injured
17:55 LNG vessels to protect environment and increase container turnover at the Port of Riga
17:32 YAMAL LNG obtains certification for the new ISO 45001:2018 and confirms compliance with ISO 14001:2015
17:03 Qatargas delivers 3000th LNG cargo to Japan