• 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.

2019 April 26

18:03 Maersk Supply Service awarded major FPSO mooring project
17:42 Bronka Port rolls out new bulk handling capabilities of KOTTA container for bulk cargo owners
17:32 DFDS invests in biofuel start-up
17:06 Concerns remain for global marine underwriting, says IUMI
16:04 Lloyd’s Register announces new range of online training courses for ISO 45001
16:01 New research into glycol freezing enables further savings with the Alfa Laval DuroShell heat exchanger in LNG fuel systems
15:47 Damen’s InvaSave mobile ballast water treatment system goes on tour ahead of IMO deadline
15:04 Port of Antwerp cargo turnover down by 3% in Q1 2019
14:36 Keppel delivers fourth enhanced KFELS Super A Class unit to EnscoRowan
14:11 Yakutia, Russia officials host groundbreaking ceremony at the site of future Zhatai Shipyard
13:38 Zvezda Shipyard hosts keel-laying ceremony for second Aframax tanker for Rosnefteflot
12:03 DEME Offshore and Equinor join hands to study floating concrete substructures for Hywind Tampen floating wind farm
11:54 Marine Façade Port to become a base for a single St. Petersburg public cruise / ferry operator
10:24 Russia’s MARINET OKs the autonomous concept of IQBoat
10:11 Brent Crude, WTI futures close lower at $ 74,19 and $ 64,89, repectively
10:08 Grimaldi starts construction of GG5G Class hybrid freighter
09:41 Baltic Dry Index rises 2.24% pts to 869 points
09:27 Bunker Market this morning, April 26
09:00 IMO launches website for Marine Environment Protection of the South-East Asian Seas project
08:13 MOL recorded ¥6.1 billion in extraordinary loss for FY2018 on its Non-consolidated Financial Statements

2019 April 25

18:06 St. Petersburg port Marine Façade revamped Pier 7 to accommodate two longer cruise ships from 2021
18:05 Bodrum Cruise Port welcomes the First call of the Year
17:05 MOL announces naming ceremony for two newbuilding LNG carriers
16:08 Bumi Armada refinances corporate debt
15:37 Volga Shipping Company starts 2019 cargo shipping season on the Upper Volga
15:08 Bibby HydroMap hold DriX demonstration day at Catapult in Blyth
15:08 NUTEP takes delivery of handling equipment from ZPMC for new Berth No. 38
14:30 Jan De Nul Group extends its fleet with three water injection dredgers
14:08 KCA Deutag awarded a four-year drilling contract extension on North Sea platform
13:52 CMA CGM unveils its vision for a digital customer journey and launches CMA CGM eSolutions
13:52 Bunker prices at Far Eastern ports end week nearly flat
13:08 CNOOC China Limited signs a petroleum contract with PetroChina
12:08 HullWiper signs hull cleaning frame agreement with Equinor ASA
11:08 ONE announces delivery of 14,000-TEU containership “ONE APUS”
10:49 MABUX: Bunker market this morning, Apr.25.
10:24 Brent Crude futures price edges up to $ 74,6, WTI - down to $ 65,79
10:08 Seagull Maritime acquires software company Tero Marine
10:08 Zelenodolsk Shipyard hosts keel-laying ceremony for 10th Grachonok-class special purpose boat
09:49 NCSP and VTB close the Novorossiysk Grain Terminal shares sale deal
09:07 UK’s leading port operator, ABP, appoints new Chief Commercial Officer
09:05 Baltic Dry Index continues to gain, settles at 850 points
08:07 Delta Mariner first to use deepened Nieuwe Waterweg at the Port of Rotterdam
07:23 LNG vessel completes 6,000th Neopanamax transit at the Panama Canal
07:12 MOL announces delivery of VLCC "PHOENIX JAMNAGAR"

2019 April 24

18:15 Cryogas-Vysotsk kicks off full-scale LNG production
18:11 Jiangsu Zhenjiang Shipyard holds steel-cutting for four ASD tugs ordered for Liaoning Longyun Shunze Tug Ltd.
18:07 COSCO SHIPPING Heavy Industry in Yangzhou holds naming ceremony for 400K DWT VLOC
17:30 Final caisson installed for Tuas Terminal Phase 1
17:07 Klaveness Combination Carriers ASA concludes the first contract of affreightment for its CLEANBU fleet
17:05 Oceaneering takes delivery of the advanced subsea construction support vessel
16:37 COSCO SHIPPING signs a strategic cooperation agreement with Yangzhou
16:34 MOL co-own world 6 largest Liquified Ethan Carrier with Reliance
16:26 Port of Vysotsk three-month cargo throughput rose 12% to 5 million tonnes
16:05 Tanjung Bruas Port expands its services to container ships
15:46 HMM to expand cooperation with FESCO
14:41 Primorsk oil port’s throughput rose 5% in Jan-Mar to 14 million tonnes
14:29 Rosmorport picks Oil Terminal Lavna to provide berths for its ships docking in Murmansk
13:42 Ust-Luga Port’s three-month volume up 8% to more than 26 million tonnes
13:35 Port of St.-Petersburg Q1 cargo volumes rise 3% to 14.26 million tonnes
13:22 FPU Akademik Lomonosov completed trials of nuclear power plant