• 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.




2018 August 19

08:19 CMA CGM announces GRR from UAE to East Africa
08:14 Maersk Line introduces Peak Season Surcharge – Scope World to Apapa, Nigeria and Tin Can Island Port, Nigeria
08:12 CMA CGM announces GRR from India to East Africa
08:07 Maersk Line increases rates from Middle East & Indian sub-continent to North America

2018 August 18

08:03 Port of Oakland to build Seaport Logistics Complex
08:00 CMA CGM announces PSS from Europe, Scandinavia, Black Sea and West Med to Indian Ocean islands
07:57 CMA CGM announces FAK rates from Asia to North Europe
07:41 A.P. Møller - Mærsk A/S posts results for Q2 2018

2018 August 17

20:03 A system of floating containment booms installed near two jetties of Petersburg Oil Terminal
18:26 Krasnoye Sormovo Shipyard launches Pola Feodosia, forth of RSD59 dry cargo vessel series
17:54 Primorsk Oil Terminal’s throughput in Jan-Jul falls 12% to 31.38 million tonnes
17:51 Nevsky Shipyard continues testing of unique replenishment system
17:08 Marine Robotics: Laws, Applications, Technologies roundtable registration underway in Moscow and Vladivostok
17:03 Port of Vysotsk volume in Jan-Jul down to 10.45 million tonnes
16:27 Port of Ust-Luga throughput in Jan-Jul down 4% to 56.27 million tonnes (details)
16:04 Western Bulk publishes First half 2018 results
15:53 Port of St. Petersburg seven-month volumes grow 13% to 34.39 million tonnes (details)
15:34 Stena Blue Sky delivers the first LNG cargo at energy giant ENN's new terminal in China
15:03 ANL announces FAK rates from North Europe and Mediterranean to Australia
14:33 A.P. Møller - Mærsk A/S delivers revenue growth in the second quarter of 2018
14:03 Third railway track put into operation in Port Bronka
13:58 Nevsky Shipyard wins contract for Arc4 passenger/freight vessel duo to be deployed on Sakhalin-Kurils route
13:51 Samsung Heavy Industries wins two eco-friendly LNG carriers
13:21 TORM posts H1 2018 interim results
13:04 A.P. Møller - Mærsk A/S to pursue a separate listing of Maersk Drilling
12:30 Hapag-Lloyd invests in growing East African market
12:07 Port of Oakland gives $70,000 to develop eco-jobs workforce
11:07 Hapag-Lloyd announces rates for Far East Westbound East Asia (including Japan) to North Europe and Mediterranean
10:45 Crude oil futures price edges down to $71.38 in London, in New York to $65.44
10:07 Latest Sanmar tugboat under trials
10:02 Gazprom Neft 1H 2018 net profit soars 1.5-fold
09:41 Baltic Dry Index adds 2 pts to 1727 points
09:37 Diana Shipping announces time charter contract for m/v Coronis
09:32 Port of St. Petersburg bunker prices close the week on a down note
09:06 Gulftainer invests AED11 mln in road extension
08:27 CMA CGM implements new FAK rates from North Europe and Mediterranean to Australia

2018 August 16

18:45 Kalashnikov Concern’s Vympel Shipyard lays keel for freezer trawler of Project T30
18:06 Port of Dover awarded contract to Solent Marine Ltd to design and fit-out Dover's new marina
17:32 Maersk Line announces rates from Far East Asia to West Africa
17:06 Hapag-Lloyd increases reefer fleet by 11,100 containers
16:56 DFDS orders additional freight ferry (ro-ro) newbuilding from the Chinese Jinling Shipyard
16:52 Sovcomflot’s shuttle tanker Governor Farkhutdinov ships 600th crude oil cargo for Sakhalin-2
16:03 CMA CGM announces GRR from Asia to Mozambique
15:47 Taganrog Sea Commercial Port's H1 2018 employee benefits and rewards programme totals RUB 2.2 million
15:31 Melbourne port operator ICTSI may be investigated by State and Federal authorities
15:09 Bunker prices at Far Eastern ports remain flat
14:33 CMA CGM announces GRR from Asia to Indian Ocean
14:27 MABUX: Bunker prices may change irregular next week
14:13 Maersk Line announces rates from Far East to North Europe
13:42 First ever S-T-S loading of 70000dwt Panamax coal carrier performed at Shakhtersk harbour transshipment location in Sakhalin
13:32 More investment contracts at the Port of Gdansk
13:02 Wärtsilä equipped Canadian ferry will have minimal environmental impact
12:16 Damen Shipyards Galati celebrates 125 years
12:09 Okskaya Sudoverf Shipyard launches 6th serial barge of Project ROB20
12:03 Boskalis presents half-year results and terminates loss-making low-end transport activities
11:59 Port of Oakland container volume up 3.6 percent in July 2018
11:45 Rolls-Royce launches new battery system for ships
10:58 DP World revenue up 14.4% in H1 2018
10:57 VARD secures contract for one autonomous and electric-driven container vessel for YARA
09:39 EU NAVFOR mission operation commander visits Spanish MPRA in Djibouti