• 2020 January 27 12:26

    Largest ports of Latvia change their focus and intend to make investments to improve their competitiveness

    In 2019, 62.4 million marine shipments were handled by Latvian ports. In comparison to 2018, the total volume of cargo decreased by 5.7%. Considering that the traditional regional cargo flows tend to change and the volume of handled transit consignments has decreased in Latvia, this result is still to be considered fairly good. Moreover, the largest ports of Latvia handled 41% of the total cargo volume in the Baltic States (147 million tonnes), Freeport of Riga says in a press release.

    “Though recent events have put ports and the transit sector in the spotlight, I would like to underline that the situation is stable, which is demonstrated by the ability of the largest Latvian ports to restructure their consignment flows. By handling 62.3 million tonnes of cargo in 2019, Latvia has maintained its leading position in the Baltic States, and we intend to maintain it in 2020. We are aware of the Russian policy concerning transit via the Baltic ports, and all ports of Latvia have to keep their focus on finding new customers,” emphasises Tālis Linkaits, the Minister for Transport.

    In 2019, the Freeport of Riga was still the largest port in Latvia and handled more than half (53%) of the total cargo volume shipped via Latvian ports. This amounts to 32.8 million tonnes, which is 10.1% or 3.7 million tonnes less than in 2018.  At the same time, to adjust to global trends and marker circumstances, the Port of Riga has recently changed its cargo portfolio – the dwindling flows of fossil fuels are gradually substituted with other flows.

    2019 was the first year in which the total volume of other cargo handled at the Freeport of Riga (since 2015 it has continuously increased by 3% annually) exceeded the total volume of fossil fuels; this was made possible due to an impressive increase in the flow of wood pellets (+35%) and cereals (+33%), as well as record results for wood chip consignments. Container cargo is still very important for the port (15% of the total volume): in 2019, 467,000 TEU units were processed at the port, which is roughly the same as the year before.

    “To improve the quality of port services and strengthen our market position, and according to the new Development programme, the Freeport of Riga Authority has started its first ever targeted programme for extensive renovation of its land and water infrastructure. As early as in 2020, the Freeport of Riga Authority intends to invest EUR 14.6 million in the development of roads, bridges and overpasses, the reconstruction of its railway infrastructure, reconstruction of births and bank support structures, as well as other significant reconstruction activities,” summarises Ansis Zeltiņš, CEO of the Freeport of Riga.

    In 2019, the Port of Ventspils handled 33% of the total volume of cargo shipped via Latvian ports. Since 2016, when the port had its lowest cargo turnover ever, it has managed to increase cargo turnover on an annual basis. In 2019, the Port of Ventspils handled 20.46 million tonnes, which is 131,000 tonnes more than in 2018. The volume of cereals cargo increased the most, followed by coal, fertiliser and metal consignments. The invariable focus of port operators on diversification was one of the factors that contributed to the stability of turnover. The share of crude oil and petroleum products that traditionally were handled most at the port was only 46% of the total cargo turnover in 2019, while the share of ro-ro consignments, general cargo and bulk cargo increased.

    Andris Purmalis, CEO of the Freeport of Ventspils: “Currently, the Freeport of Ventspils faces many new challenges and opportunities. Terminals of the Port of Ventspils ended 2019 with a positive balance, but we have to ensure that our management platform allows port operators to be sure about the transparency of administration, and efficient and reasonable performance that gives an opportunity not only to maintain the current turnover, but also to develop further. Currently, the Freeport of Ventspils has four main focus areas. We carefully review current projects, update the investment section, focusing on the maintenance and development of port infrastructure, update the legal framework for the newly established joint stock company to take over the Freeport of Ventspils Authority, and, most importantly, make targeted improvements in the performance of port administration.”


2020 February 28

12:10 Polskie LNG launches Open Season Process for Świnoujście LNG Terminal
11:47 Port of Antwerp launches Bulkchain collaboration platform
11:02 Diana Shipping announces the sale of a Capesize dry bulk vessel, the m/v Norfolk
10:41 IMO developed guidelines for taking onboard samples of fuel from ships
10:18 Fincantieri launches the first corvette for Qatar
10:07 Pathways to achieve IMO's Initial GHG Strategy goals discussed at dedicated workshop hosted by WMU
09:40 Brent Crude futures price is down 2.51% to $50.43, Light Sweet Crude – down 2.68% to $45.83
09:29 The construction of new deepwater berths of cruise terminal at Piraeus Port starts
09:21 MABUX: Bunker market this morning, Feb 28
09:14 Baltic Dry Index is down to 529 points
08:32 CMA CGM announces PSS for cargo from North Europe to Asia

2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread
18:01 Chartwell Marine announces sponsorship agreement with Alan Roberts Racing in the lead up to the 2020 racing season
17:29 Keppel delivers world’s fastest brownfield FPSO modification project
17:26 Busan Port Authority and Samsung SDS signed a contract to operate a logistics center in Rotterdam, Netherlands
17:00 Smart Maritime Council announces support for shipboard machinery data standard
16:23 Damen DOP ensures new approach to dredging – expert opinion
16:00 FSUE Rosmorport to dredge 18.4 million cbm of material in 2020
15:36 Yamal LNG reaches thirty million tons milestone
15:12 MHI-MME receives retractable fin stabilizer orders for two luxury expedition vessels being built by Helsinki Shipyard
14:55 Contract signed for extension of Świnoujście LNG Terminal
14:34 Rosmorrechflot to have 20 dredgers built at Lotos shipyard by 2030
14:12 Kongsberg Maritime wins 300 MNOK contract to equip four new cruise vessels
13:55 EU NAVFOR Somalia supports Djiboutian Coast Guard
13:33 Belarusian-Latvian cooperation in multimodal cargo transportation via Latvian ports discussed in Riga
13:10 Global Offshore announces new addition to its cable installation fleet
12:51 Rosmorport announces tender for dredging on access canal of Temryuk port
12:28 PortNews Media Group and Shipbuilding Cluster of Arkhangelsk Region sign agreement on cooperation
12:10 Contship Italia confirms operational continuity at Group's maritime and intermodal terminals amidst SARS-CoV-2 outbreak
12:07 Milaha reports a 6% increase in net profit for full year 2019