• 2018 January 10 10:29

    KN successfully overcame the challenges of 2017

    In 2017, the operator of oil and liquefied natural gas (LNG) terminals KN (AB Klaipėdos Nafta) reloaded 7.177 million tonnes of oil products, with 12.646 million MWh of natural gas regasified and reloaded at the LNG terminal. KN says the company faced challenges last year but managed to overcome them due to its ability to be aware of and respond to the needs of the market, improve the processes as well as seek possibilities to expand the range of services and adapt to changing conditions.

    According to the unaudited performance results of 2017, the amount of oil product and natural gas was almost the same as in 2016. December was a remarkable month for KN – the company loaded the highest volume of oil products, which significantly boosted the annual performance results of KN. As much 834,000 tonnes of oil products were reloaded in December, a growth of 46% compared with December 2016. August was especially productive for KN's LNG terminals – the company regasified and reloaded as much as 2.176 million MWh of natural gas.

    CEO of KN Mindaugas Jusius says that the main challenges were related to oil product load, especially in the first half of 2017, due to the geopolitical situation, when neighbouring countries experienced a tension and stagnation in the logistics of crude oil and oil products. However, KN determined to maintain the load level of 2016 and managed to restore the load volume in the second half of 2017 by using the current infrastructure and installing new ones for different cargoes. As CEO of KN pointed out, this achievement would not have been possible without the efforts of qualified and valuable employees of KN. The company’s staff accounted for nearly 382 employees last year.

    According to CEO of KN, last year the company especially concentrated on risk assessment and quality risk management.

    “The port activity is characterised by specificity, especially for such companies as KN, which reloads the production of such countries as Belarus. We are not only concerned about our own business but are also aware that our operations are affected by international relations. The latter was a source of great concern for us last year, and continues to disturb us this year. So, we try to assess all risks and seek to find the most reasonable solutions. Nevertheless, all our commercial decisions are based on business interests, rather than political ones,” said Mr Jusius, speaking about the risks in the oil product business.

    The operations of the LNG terminal during the last year also contributed to the high performance results of KN. In 2017, the capacity of the LNG terminal during some periods reached as much as 90%, nearly the highest level among all LNG terminals in Europe.

    “Lithuania has gained a reputation on the LNG market as a country of skilful specialists and the ability of implement projects within budget and in due time. Last year the LNG terminal supplied gas to seven countries, and gas to the terminal was shipped from four continents: Europe, South and North America, and Africa. Lithuania has a possibility to purchase gas from anywhere, at the cheapest price,” explained Mr Jusius, speaking about the benefit of the LNG to the state.

    Over 2017, the balanced turnover of cargoes generated a good profit for the company and its shareholders. The preliminary sale revenues of KN amounted to EUR 106.5 million in 2017, a growth of 2.6% compared with 2016. According to the preliminary data, Klaipėda and Subačius oil terminals last year earned EUR 38.3 million (EUR 4.5 million in December, 73% more than in 2016). In 2017, the LNG terminal generated EUR 68.2 million in preliminary revenues, the same as in 2016.

    “The good results of last year prove once again that teamwork and cooperation may bring the tangible benefit not only to the company but also its shareholders, society and the state. We are not only proud about the financial return. We are delighted that KN is considered an attractive employer in the region and creates stable jobs. We share our profit not only with non-profit organisations but also invest it in environmental solutions, such as recycling processes and air pollution prevention. The latter has become especially important for local communities. I want to say that a company, which conducts a socially responsible business, constantly seeks to invest in processes aimed at managing the risks of pollution.  According to the monitoring results, last year volatile organic compounds, or air pollution components, did not exceed the norms provided for in legal acts,” concluded Mr Jusius, speaking about the company’s activity in 2017.




2019 February 22

18:08 Pacific Fleet AS-34 underwater vehicle practises maneuvering in Kola Bay
17:50 Krasnoye Sormovo launches first ship in new RSD59 series of four ships ordered by STLC
17:35 CMA CGM announces FAK rates from Asia to the Middle East Gulf
17:05 Bilfinger expands in international maritime scrubber market
16:35 Aker Solutions to develop digital twin for Wintershall’s Nova field
16:12 Chiquita's new container ship pays its first visit to Kloosterboer in North Sea Port
15:31 DOF awarded contracts for three ROV Support Vessels in Brazil
15:12 Biggest wellboat in the world’s hull arrives at Havyard yard in Leirvik
14:55 Zaliv shipyard (Kerch) launched search-and-rescue ship of Project А163
14:12 Tideway completes installation of longest AC offshore wind export cable at Hornsea One in the UK
13:48 32 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 21-22
13:30 GTT creates a Digital Hub of Excellence in Singapore
13:04 The Spectrum of the Seas leaves the MEYER WERFT's dock
12:49 Sea Port of Saint-Petersburg upgrades its cane equipment
12:30 Port of Rotterdam bunker figures down to 9.5 million m3 in 2018
12:03 Algoma announces purchase of additional product tanker
11:30 Van Oord is one of the founding partners and main sponsor of PortXL
11:02 Fincantieri and Abu Dhabi Shipbuilding reach an agreement to cooperate in the UAE shipbuilding segment
10:30 Mitsubishi Shipbuilding holds christening ceremony for next-generation LNG carrier "MARVEL CRANE"
10:20 Port of Yeisk handled 159,000 tonnes of cargo year-to-date
10:00 CMA CGM implements Port Congestion Surcharge from Med and North Europe to Canada East Coast
09:58 The Netherlands ratifies ship recycling convention
09:35 Brent Crude futures price is down 0.24% to $66.91, Light Sweet Crude – down 0.16% to $56.87
09:17 Baltic Dry Index is up to 630 points

2019 February 21

18:33 AML’s MVP200 selected for new Swedish “RV Svea”
18:16 ​Shearwater GeoServices and TGS partner for major Brazil survey
18:03 NYK selected as a White 500 company for third consecutive year
17:55 Rosmorport to dredge 12.1 million cbm of material in 2019
17:34 Boskalis expands market position in marine survey through acquisition Horizon
17:29 GE to supply LM2500 gas turbine auxiliary equipment for Indian Navy’s P17A frigates
17:11 Hydrographic Company to get 15 new vessels by 2024
17:05 Rotterdam port innovation programme PortXL participants announced
17:03 H.H. Sheikh Theyab updated on ADNOC L&S strategy to become a global shipping champion
16:14 SCHOTTEL presents new shallow-water thruster SPJ 30 up to 150 kW
15:35 Forth Ports Group receives planning consent for new terminal at the Port of Tilbury
15:16 Algoma announces the Algoma Conveyor is headed for Canada
14:32 A.P. Moller - Maersk accelerates transformation and grows revenue in 2018
14:11 Teekay Tankers reports fourth quarter and annual 2018 results
13:46 Santos posts it 2018 net profit of $630 million
13:15 Gazprom Neft demonstrates solid growth across all key financial indicators in 2018
13:13 A.P. Moller - Maersk initiates demerger and separate listing of Maersk Drilling
12:49 ESPS Relampago’s crew carried out maritime training exercises with the Seychelles Coastguard
11:57 First meeting of Eastern Partnership LNG Network takes place in Warsaw
11:28 42 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 20-21
11:03 The UK publishes draft UK MRV legislation following Brexit
10:39 Taganrog Sea Commercial Port spent USD 60,500 under its social programme in 2018
10:16 IMO treaties ratified by Guyana
09:54 Allocations of Taganrog Sea Commercial Port for its environmental programme in 2018 totaled USD 96,400
09:31 Brent Crude futures price is up 0.18% to $67.2, Light Sweet Crude – up 0.51% to $57.45
09:15 Baltic Dry Index is down to 622 points

2019 February 20

18:13 Klaipėdos nafta carried out the 10th operation of reloading LNG from a gas carrier to ground storage tanks
17:52 VNIIR-Progress St. Petersburg supplies electrical equipment for Atomflot icebreaker
17:28 Documents on concession model for Taman dry cargo area project to be submitted to RF Govt in March 2019
17:04 Cammell Laird stages ‘float-off’ for new £10m ferry for Red Funnel
16:46 VTMS, AIS and Pilotage Service on the Northern Sea Route to remain under Rosmorport’s control
16:25 NOVATEK eyes arranging LNG bunkering in Sabetta
16:04 Maersk enhances Asia-Europe network to further improve schedule reliability
15:43 Decision made on transfer of FSUE Hydrographic Company to Rosatom Corporation
15:21 Euronav sells LR1 Genmar Сompatriot
14:54 SIA Extron Baltic receives award for rapid growth in the Port of Riga