• 2018 August 1 09:41

    KN increased its loading volume and income

    The first half of this year was financially successful for KN (AB „Klaipėdos nafta“) – the operator of oil products and liquefied natural gas (LNG) terminals. KN says the preliminary data says that the company has earned EUR 52.4 million, and its net profit reached EUR 10.2 million – an increase of 38% if compared to the same period of the last year.
    In accordance with non-audited financial statements, the revenues received from activities of the oil products loading amounted to EUR 18.1 million in the first quarter of the year, i.e. 26% more than the amount earned in the same period of the last year.
    In the first half of this year, Klaipėdos Nafta terminal and Subačiaus kuro bazė (Subačius fuel storage facility), where state fuel reserve is stored, reloaded to containers a total of 3.55 million tonnes of oil products, compared with the same period last year with a total of 3.2 million tonnes of cargo.
    The growth of the loading results was mostly determined by the increasing flows of oil products from Belarus as well as the growing cargo turnover of the tank tracks loading sites.
    Mindaugas Jusius, KN CEO, notes that the good results were achieved by assuring control of processes and expenses and increasing the operation efficiency.  “One of the examples is the fact that this year we have considerably reduced consumption of heat energy. The demand for heat energy per tonne was 12% lower than last year,” Mr. Jusius notes.
    The preliminary data says that the LNG terminal earned EUR 32.5 million in revenues in the period from January to June, when the same period of the last year ended with EUR 34.98 million. The revenues of the LNG terminal are regulated and do not depend on the gasification volume. Whereas, the additional revenues received in the first quarter of the year as the result of recalculated gas consumption capacities of 2017 will have an effect when approving the revenues of the LNG terminal and the safety constituent of the next year.
    Over the first quarter of this year, a total of 4.519 thousand MWh of gas was regasified and reloaded compared to 4.869 thousand MWh regasified and reloaded in the same period last year. The scope of activities of the LNG terminal was lower due to lower terminal capacities ordered by terminal users.
    “We positively evaluate the general results of the first half of 2018 in the context of the goals of the organisation, and this encourages our further coherent work aimed at creating added value for our partners and our shareholder – the state of Lithuania,” summarises the results Mindaugas Jusius and adds that these results would be impossible to achieve without the strong team of the company. “I am proud of our professional and motivated employees, who together can overcome major challenges,” added Mr. Jusius.
    At the annual awards “Best employer of the year” organised by the daily “Verslo žinios” KN was elected as the best employer of 2018 in the sectors of transport and logistics. Best employers of the year were awarded based on the assessment of 3 groups of indicators: company stability, wages and reputation. The KN CEO highlights that this award obliges the company to pay more attention to the enhancement of the organisational culture of the company.
    According to Mr. Jusius, over the first half of this year, the company has paid a great deal of attention to the support of the dialogue with the surrounding communities. 
    “We have heard the comments of the surrounding communities regarding the odours resulting from our activities in the surrounding territories. The results of the odour dispersion modelling performed by the National Public Health Centre in May showed that the concentration of odours resulting from activities of the KN oil terminal does not reach the maximum allowed level of odour concentration in the air of residential and public territories. Although the nature of our activities does not allow full elimination of oil products odour during the process of loading, we understand that the odours of oil products are unpleasant, therefore, we are constantly searching for new solutions aimed at improving the quality of the environment. In Autumn, we are planning to present to the public a detailed environmental programme, and we are hoping this will enhance our constructive dialogue,” Mr. Jusius claims.
    Environmental protection is one of the priority fields of KN, therefore, in the upcoming two years, the company is planning to invest about EUR 4.4 million into pollution prevention and various environmental measures as provided in the company development strategy until 2020.

2021 June 12

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2021 June 11

18:07 LNG consumption as a marine fuel has almost doubled in 2020
17:31 Hapag-Lloyd to provide full transparency on vessel arrivals
17:09 MOL joins international think tank and accelerate development for carbon capture, utilization and storage
16:58 GTT obtains tank design order for two new LNG carriers from Samsung Heavy Industries
16:52 Shipping industry welcomes Nigeria’s creation of ‘Deep Blue’ to stamp out piracy in the Gulf of Guinea
16:24 Stena Line will move its Europoort-Killingholme service to Immingham
16:00 Yantar shipyard to build rescue ship of Project MPSV06M for Marine Recue Service
15:36 Sea Port of Saint-Petersburg hosts introductory practical training for students
15:13 The Port of Rotterdam Authority, Customs, Fresh Produce Centre and Portbase join forces to facilitate the growth market of refrigerated products
14:25 Seanergy takes delivery of two Capesize vessels with prompt commencement of period charters
13:51 Total throughput at the ports of Bremen increases once again during Q1 4 June 2021
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13:04 MOL and ACSL use flying drone to conduct autonomous inspection of vessel holds under non GNSS and dark environment
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12:38 Oboronlogistics receives RS certificate on safety management of cargo ship Sparta
12:14 CNES and CMA CGM sign unique partnership agreement to spawn innovative solutions for shipping, logistics and the space industry
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11:57 Russian Railways: Loading of export cargo bound for domestic ports grew by 8% in 5M’21
11:34 RS and GTT sign new cooperation agreement
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10:29 Rosneft agrees heads of terms to sell a stake in the Vostok Oil Project to a consortium of Vitol and Mercantile & Maritime
10:08 DRAX and Mitsubishi Heavy Industries sign pioneering deal towards delivery of the world’s largest negative emissions project
09:52 Throughput of Russian seaports in 5M’2021 fell by 2.7% Y-o-Y
09:40 Oil prices continue decreasing
09:23 Baltic Dry Index as of June 10
09:16 MABUX: Global bunker prices may rise slightly on June 11.
09:04 The port of Rotterdam Authority intends to build brand new port information centre
08:02 Rolls-Royce to showcase future South Korean naval power and propulsion

2021 June 10

18:45 Equinor sells its refining business in Denmark to Klesch
18:25 Rolls-Royce builds new fuel cell demonstrator to ensure electricity supplies
18:05 DNV predicts that marine finfish production in deeper waters offshore will take a 13% market share in 2050
18:00 Comprehensive programme on development of Yamal resource potential to be developed by October 2021
17:51 Contract awards for PSVs in UK
17:50 BC Ferries' fourth Island Class ferry departs Romania on Transatlantic voyage bound for B.C.
17:35 Pilbara Ports Authority posts results for May 2021
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16:35 Kalmar enters into Strategic Cooperation with Sichuan Port and Shipping Investment Group in China
16:15 Fincantieri to provide 8 vessels to Indonesia
15:52 Adriatic Gate terminal marks 10th year with 2M TEU milestone
15:31 Fincantieri to support Daewoo in the design of the new Korean aircraft carriers
15:13 Construction kicks off on world’s first zero-emission fast ferry
14:55 RF Navy’s Pacific Fleet conducts operational exercise in the central Pacific
14:09 5th Annual Capital Link Cyprus Shipping Forum to be held on June 17, 2021
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