• 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 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
16:34 KOTUG and Petroconsult join forces to establish KOTUG PETRO Maritime (KPM)
16:20 Ttraining on oil spill preparedness and response held for countries in eastern Africa
16:04 Diana Shipping announces the sale of a Panamax dry bulk vessel
15:55 Throughput of port Kavkaz in 10M’18 grew by 19% Y-o-Y to 42.6 million tonnes
15:34 Royal IHC wins KNVTS Ship of the Year for SCHELDT RIVER
15:03 Damco launches a dedicated warehouse for Barry Callebaut and inaugurates a new facility in the heart of Poland
14:41 MAN Cryo to design and deliver LNG regasification terminal
14:25 LUKOIL reports preliminary operating data for Q3 and 9M’2018
14:03 COSCO Shipping Heavy Industry and GTT sign agreement for LNG carrier repairs
13:42 Alfa Laval wins two orders to supply Framo pumping systems to oil platforms in the North Sea
13:13 HH Ferries Group officially inaugurates two battery-powered passenger ferries
12:48 BIMCO launches survey to highlight biofouling management
12:24 HHLA container throughput up by 1.0 percent in the first nine months of 2018
12:07 Torqeedo reveals new products for electric mobility on the water
11:51 Bunker prices are still high in the Far East ports of Russia (graph)
11:22 Throughput of port Riga (Latvia) in 10M’18 climbed by 6.5% Y-o-Y to 29.9 million tonnes
10:53 RF Navy's training ship Perekop returns from distant cruise
10:29 Brent Crude futures price down 1.04% to $69.39, Light Sweet Crude – down 1.33% to $59.13
10:10 ABP invests £1 million in Port of Lowestoft as part of energy hub vision
09:44 National maritime transport policy training held for Mexican officials
09:16 Baltic Dry Index is down to 1,125 points
09:07 Valencia Containerised Freight Index rises 2.57% and stands at 1,105.61 points
08:07 ERMA FIRST obtains USCG type approval for ballast water treatment system using FILTREX filters
07:18 Long Beach cargo volumes up 5.4 percent in October 2018

2018 November 12

18:01 Major ASW ship Severomorsk of RF Navy's Northern Fleet participates in Russian-Japanese exericse in the Gulf of Aden
17:42 Maritime Administration of Ukraine announced selection of 13 seaport captains
17:04 Maersk Line announces FAK rates from Northern Europe to Middle East and ISC
16:56 Danish shipyard orders large equipment package from Rolls-Royce
16:54 Wan Hai Lines orders 20 new vessels
16:50 Throughput of Rostov-on-Don port in 10M’18 up 18% Y-o-Y to 21.1 million tonnes
16:34 CMA CGM announces GRR from Asia to South Africa
16:22 RF Ministry of Industry and Trade announces tender for R&D and designing of marine systems and technologies
16:04 Bigger share of modal split envisaged for inland shipping in the Baltic Sea Region
15:51 RF Ministry of Industry and Trade announces tender for documentation on construction of Leader icebreaker
15:34 IMRF and The Nautical Institute sign MOU
15:20 Port of Liepaja (Latvia) handled 6.24 million tonnes of cargo in 10M'18, up 19% Y-o-Y
15:04 Yang Ming reports its financial results for 2018 Q3
14:46 Sea Port of Saint-Petersburg completes New Leaders project
14:31 ClassNK and TÜV Rheinland sign partnership agreement for cybersecurity services
14:03 Maersk Line announces rates from North Europe to Far East Asia
13:47 ICTSI plans to invest over P5 billion in Iloilo ports
13:28 Baltiysky Zavod shipyard loaded reactors onto nuclear-powered icebreaker Ural, second serial ship of Project 22220
12:40 Average wholesale prices for М-100 HFO down to RUB 20,508 in RF spot market
11:57 Reduced Klaipeda seaport charges for container ships to boost shipping development
11:34 IMO supports equal opportunities for women in fisheries
11:12 Trinidad and Tobago benefits from IMO port security training
10:49 RF Navy's Northern Fleet holds exercise to assist a submarine in distress
10:13 Brent Crude futures price up 1.55% to $71.27, Light Sweet Crude – up 0.96% to $60.77
09:56 Port of HaminaKotka throughput in 10M’2018 up 12.8% Y-o-Y to 13.57 million tonnes
09:34 Throughput of port Helsinki (Finland) in 10M'18 up 4.8% Y-o-Y to 12.38 million tonnes
09:15 Baltic Dry Index is down to 1,147 points
09:08 Global Maritime Administrators attend the 8th Maritime Public Leaders’ Programme in Singapore
08:51 TORM establishes joint venture with Guangzhou Shipyard International and ME Production to manufacture scrubbers to reduce sulfur emissions

2018 November 11

11:19 Maersk Line increases FAK rates from Far East Asia to Mediterranean
10:16 Day Tourist Tax for cruise passengers to apply to sea cruise and river cruise passengers in Amsterdam