• Home
  • News
  • KN increased its loading volume and income
  • 2018 August 1 09:41

    KN increased its loading volume and income

    The first half of this year was financially successful for KN (AB „Klaipėdos nafta“) – the operator of oil products and liquefied natural gas (LNG) terminals. KN says the preliminary data says that the company has earned EUR 52.4 million, and its net profit reached EUR 10.2 million – an increase of 38% if compared to the same period of the last year.
     
    In accordance with non-audited financial statements, the revenues received from activities of the oil products loading amounted to EUR 18.1 million in the first quarter of the year, i.e. 26% more than the amount earned in the same period of the last year.
     
    In the first half of this year, Klaipėdos Nafta terminal and Subačiaus kuro bazė (Subačius fuel storage facility), where state fuel reserve is stored, reloaded to containers a total of 3.55 million tonnes of oil products, compared with the same period last year with a total of 3.2 million tonnes of cargo.
     
    The growth of the loading results was mostly determined by the increasing flows of oil products from Belarus as well as the growing cargo turnover of the tank tracks loading sites.
     
    Mindaugas Jusius, KN CEO, notes that the good results were achieved by assuring control of processes and expenses and increasing the operation efficiency.  “One of the examples is the fact that this year we have considerably reduced consumption of heat energy. The demand for heat energy per tonne was 12% lower than last year,” Mr. Jusius notes.
     
    The preliminary data says that the LNG terminal earned EUR 32.5 million in revenues in the period from January to June, when the same period of the last year ended with EUR 34.98 million. The revenues of the LNG terminal are regulated and do not depend on the gasification volume. Whereas, the additional revenues received in the first quarter of the year as the result of recalculated gas consumption capacities of 2017 will have an effect when approving the revenues of the LNG terminal and the safety constituent of the next year.
     
    Over the first quarter of this year, a total of 4.519 thousand MWh of gas was regasified and reloaded compared to 4.869 thousand MWh regasified and reloaded in the same period last year. The scope of activities of the LNG terminal was lower due to lower terminal capacities ordered by terminal users.
     
    “We positively evaluate the general results of the first half of 2018 in the context of the goals of the organisation, and this encourages our further coherent work aimed at creating added value for our partners and our shareholder – the state of Lithuania,” summarises the results Mindaugas Jusius and adds that these results would be impossible to achieve without the strong team of the company. “I am proud of our professional and motivated employees, who together can overcome major challenges,” added Mr. Jusius.
     
    At the annual awards “Best employer of the year” organised by the daily “Verslo žinios” KN was elected as the best employer of 2018 in the sectors of transport and logistics. Best employers of the year were awarded based on the assessment of 3 groups of indicators: company stability, wages and reputation. The KN CEO highlights that this award obliges the company to pay more attention to the enhancement of the organisational culture of the company.
     
    According to Mr. Jusius, over the first half of this year, the company has paid a great deal of attention to the support of the dialogue with the surrounding communities. 
     
    “We have heard the comments of the surrounding communities regarding the odours resulting from our activities in the surrounding territories. The results of the odour dispersion modelling performed by the National Public Health Centre in May showed that the concentration of odours resulting from activities of the KN oil terminal does not reach the maximum allowed level of odour concentration in the air of residential and public territories. Although the nature of our activities does not allow full elimination of oil products odour during the process of loading, we understand that the odours of oil products are unpleasant, therefore, we are constantly searching for new solutions aimed at improving the quality of the environment. In Autumn, we are planning to present to the public a detailed environmental programme, and we are hoping this will enhance our constructive dialogue,” Mr. Jusius claims.
     
    Environmental protection is one of the priority fields of KN, therefore, in the upcoming two years, the company is planning to invest about EUR 4.4 million into pollution prevention and various environmental measures as provided in the company development strategy until 2020.




2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
18:31 DP World celebrates 2,000 members of the Digital Freight Alliance
18:07 CMA CGM and Shell perform first Bio-LNG bunkering operation in Rotterdam
17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam
17:06 Port of Antwerp invests in digitalisation of radar infrastructure
16:47 Western Australia and Port of Rotterdam to collaborate on renewable hydrogen
16:05 IMO moves ahead on GHG emissions, Black Carbon and marine litter
15:50 Diana Shipping announces completion of OceanPal spin-off
15:41 RF Federation Council approves Federal Law on Ratification of Nairobi Convention
15:04 Yang Ming adds the latest of its 9th 11,000 TEU ship to the Trans-Pacific service
14:07 SEA-LNG backs Europe’s goal-based, technology-neutral regulation for cleaner shipping
13:50 Liepaja SEZ Board appointed Uldis Hmieļevskis, Deputy CEO, as Acting Manager
13:14 Rolls-Royce extends TBO intervals of mtu Series 4000 engines for commercial marine application
13:03 Oil shipments via CPC Marine Terminal in 11M’21 climbed by 0.7% YoY
12:56 Valenciaport tenders the drafting of the urban development project for areas 2 and 5 of the Special Plan for zone 1 south of the Port of València
12:06 Mostotrest conducted 2,177 operations on raising bridges in Saint-Petersburg over navigation season of 2021
11:45 MABUX: Bunker prices may continue to decline on Dec 1
10:49 Russian Railways' network loading climbed by 3.3% in 11M’2021
10:15 Maersk Customs Services USA highlights trends and opportunities for U.S. importers
09:51 Port of Kiel receives funding for digital test field
09:30 Crude oil prices start rising
09:16 Baltic Dry Index as of November 30

2021 November 30

18:35 ICS urges WTO Director General to prioritise maritime transport in multilateral trade negotiations
18:14 First phase of Tuas Port reclamation works completes
17:53 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
17:35 HDB, JTC and MPA, which issue over two-thirds of government invoices, offer e-invoicing through IMDA’s InvoiceNow
17:04 DNV supports world first large-scale testing of submerged CO2 pipelines
16:48 RF Navy’s large anti-submarine ship Vice Admiral Kulakov enters Barents Sea
16:34 Brittany Ferries takes delivery of Salamanca
16:04 Port of Oakland total cargo volume down 20 percent in October 2021
15:50 RF Navy's corvette Gremyashchy and two submarines of Varshavyanka project welcomed in Vladivostok
15:39 Abbey Heimensen appointed to VP of Marketing, MarineMax
15:34 The Port of Barcelona validates its Innovation Plan
15:19 Icebreaker Sibir of Project 22220 completed main part of shipbuilder’s sea trials