• 2017 April 26 11:47

    Rail Baltica project to boost Baltic economies

    When speaking at the forum "Rail Baltica – Building a New Economic Corridor" the Lithuanian Minister of Transport and Communications Rokas Masiulis emphasised Lithuania’s determination to be actively involved in the building of a new European gauge railway, says press center of the Ministry.

    “We are the leaders in the implementation of this project. We have already built the European gauge line to Kaunas. Lithuania will continue contribute to this project to ensure that it is implemented in time and in a quality manner. The Rail Baltica project involves not only a railway line equipped with stations and terminals – it is also the project of European integration. The railway will provide many opportunities for businesses and people in the whole region. The potential may even surpass our expectations. So, we must seek new business opportunities and new cargo streams already now. I am convinced that this project will have a significant impact on boosting the economic growth of the entire Baltic region,” - said Minister Masiulis.

    The building of a new railway will result in the creation of a quality economic corridor which will increase the mobility of passengers and cargo, according to the new cost-benefit analysis of the Rail Baltica project. The findings of this analysis were presented today by the representatives of the joint venture RB Rail AS.  

    The anticipated socio-economic benefit of the project has been calculated – it averages€16.2 billion euros (not discounted) and significantly exceeds the total amount of required national investments for the project’s implementation.

    The total amount of investments of the three Baltic countries in the project is put at about €5.8 billion (Estonia – €1.4 billion (the state’s share about €268 million); Latvia – €2 billion (the state’s share about €393 million); Lithuania – €2.5 billion (the state’s share about €493 million).

    To ensure that the Baltic countries have an effectively operating 1435 mm gauge railway the important role in the implementation of the project is played by Poland and Finland as well.

    AB Lietuvos Geležinkeliai (Lithuanian Railways) cooperates with Polish railway and logistics companies to attract more cargo and make use of the advantages of one-stop-shop services of the North Sea-Baltic Sea Rail Freight Corridor. Minister Masiulis invited Latvia and Estonia to become part of the structure of this rail freight corridor.

    At the forum, the partner countries of the Rail Baltica project – Lithuania, Latvia and Estonia – reiterated their long-term obligations. The planned public procurements related to the implementation of the project were presented to the representative of the railway industry.

    The trilateral meeting of Lithuania, Latvian and Estonian transport ministers discussed the progress of works performed by each country as part of the implementation of the Rail Baltica project. It was noted that Lithuania had already started the procedure of land expropriation on grounds of public interest in the section Kaunas–Lithuanian-Latvian border and was preparing for building the 1435 mm gauge railway around Kaunas. The railway will be connected with the intermodal terminal in Palemonas.

    On 31 January 2017 in Tallinn, the prime ministers of the three Baltic countries signed an agreement on the construction schedule of Rail Baltica as well as gauge and other parameters. They agreed to outline general technical parameters, routes, the deadlines of the project’s implementation, construction conditions and a contractor, and the role of RB Rail AS in ensuring preliminary conditions and building the railway as well as the funding of the railway’s construction. The agreement provides for the implementation of the Rail Baltica project by 2025 and the launch of the railway’s operation in 2026.

    In 2011, Rail Baltica was named the project of state significance in Lithuania.

2018 November 15

18:03 Costa Smeralda to call on Cruiseport Rotterdam
17:54 Polish LNG Conference 2018 concludes in Warsaw
17:25 Port of Singapore throughput in 10M’18 grew by 0.7% Y-o-Y to 523.73 million tonnes
17:03 Maersk Line announces rates from Mediterranean to West and Central Asia
16:52 Expert says downward trend in bunker prices may continue next week
16:30 Nevsky Shipyard launched dry cargo vessel of Project RSD59 «Pola Anfisa»
16:19 "K" Line takes delivery of coal carrier “SHONAI MARU” for JERA Trading
16:04 ICTSI names new APAC head
15:22 Meyer Turku starts construction of Carnival XL1
15:03 Port of Antwerp signs an agreement with Enabel
14:34 Throughput of Ukraine’s seaports in 10M’18 declined by 0.7% Y-o-Y to 108 million tonnes
14:03 Pavilion Energy and Novatek agree to strengthen their LNG partnership
14:00 Damen hands over four FCS 2610 vessels to Allianz during ADIPEC
13:36 ABS awards industry’s first offshore facility cyber security-ready notation to Sembcorp Marine
13:23 NOVATEK’s Board of Directors to be elected on 18 January 2019
13:00 Zvezda shipyard started serial manufacturing of Aframax-class tankers
12:39 Residents of Riga and the Port outline a common vision for the future
12:04 Singapore hosts 10th APEC Port Services Network (APSN) Port Connectivity Forum
11:48 Bunker prices are still high in the Far East ports of Russia (graph)
11:22 Sea Port of Saint-Petersburg’s allocations for its development programme totaled RUB 413.5 million in 9M’2018
11:03 NYK promotes decarbonization through exploratory design of NYK Super Eco Ship 2050
10:51 ABS and HHI pioneer Cyber Security standard for new vessels
10:25 Brent Crude futures price down 0.18% to $66, Light Sweet Crude – down 0.36% to $56.05
10:11 OOCL introduces new Asia – South Africa direct services
09:58 A.P. Moller – Maersk, CMA CGM, Hapag - Lloyd, MSC and Ocean Network Express plan to establish container shipping association
09:38 ASW Severomorsk of RF Navy's Northern Fleet completed a call to the Republic of Djibouti
09:16 Baltic Dry Index is down to 1,009 points

2018 November 14

18:37 Savannah achieves all-time record in October 2018
18:20 Sovcomflot concludes USD 149 million project credit facility with leading European banks
18:06 NYK and YLK jointly hold training program for staff from around the world
17:57 Organizers of “Dangerous cargoes: new transportation requirements” conference determined subjects to be discussed
17:36 Northwest Seaport Alliance adopts budget for 2019
17:07 DEME’s cutter suction dredger ‘Spartacus’ launched at the Royal IHC shipyard
17:06 Port of Rotterdam Authority wins 2018 ESPO Award
16:40 NIBULON’s fleet masters transportation of bulky cargo
16:38 Diana Shipping announces time charter contract for m/v Maia with Glencore
16:18 A.P. Moller - Maersk reports Q3 2018 results
15:48 1.348 million cbm to be dredged in Azov-Don River Basin this year
15:20 Stolt-Nielsen, Golar LNG and Höegh LNG announce joint $182 mln investment in Avenir LNG
14:56 World's most eco-friendly bulk carriers Viikki & Haaga operate in Baltic Sea
14:20 CHI Zhoushan is ready for LNG carrier repairs
13:37 DeloPorts published its operating results for Q3'2018
13:29 Damen Shiprepair Curaçao floating dock operational
13:15 Global Ship Lease announces new charter at increased rate
12:59 LUKOIL drilled second well in Eastern part of Yury Korchagin field
12:33 USC: aircraft carrier Admiral Kuznetsov to be out of repair on time
12:01 NYK introduces its initiatives of green bond
11:55 Clean water projects receive $3 mln from Long Beach Board of Harbor Commissioners
11:28 Navigation on Neva arms in Saint-Petersburg to close on November 15
10:45 IMO holds training for OSR officials in Myanmar
10:21 Brent Crude futures price down 0.29% to $65.28, Light Sweet Crude – down 0.45% to $55.44
10:02 GTT notified by Hyundai Heavy Industries for the tank design of a new LNG Carrier
09:59 STX receives AiP from LR for LNG-fuelled 50k dwt MR tanker
09:40 Bunker prices at the Port of Saint-Petersburg, Russia returned to September level (graph)
09:17 Baltic Dry Index is down to 1,064 points

2018 November 13

18:06 Navios Containers seeks to list on a U.S. stock exchange
17:53 BIMCO adopts 2020 bunker clauses
17:34 CMA CGM to revamp its CIMEX 2K2 service
17:11 Nevsky Shipyard takes part in «Transport of Russia» exhibition
16:56 NOVATEK shipped first LNG cargo to CNOOC