Petersburg Oil Terminal transshipped 1.7 million tonnes of light oil products in H1’19 up 6% YoY

Petersburg Oil Terminal (POT) has summarized its results for the first half of 2019. According to POT press center, transshipment of oil products has not changed over this period remaining flat at 3.7 million tonnes. Transshipment of light oil products (kerosene and diesel fuel) increased by 100,000 tonnes (or 6%) to 1.7 million tonnes while handling of dark oil products (heavy fuel oil) fell by 100,000 tonnes (or 5%) to 2 million tonnes.

According to the statement, POT is still the largest terminal for transshipment of dark and light oil products in Saint-Petersburg. The share of the terminal I total transshipment of oil products via Big Port St. Petersburg was as high as 80% in H1’2019, down 4%. In the reporting period, total turnover of oil products at the port of Saint-Petersburg grew by 112,000 tonnes versus the same period of the previous year to 4.6 million tonnes.

“The global oil market situation is still unfavorable in general, which has an inevitable impact on us. It is aggravated by some local factors such as low water level of Russia’s navigable rivers preventing tankers from being fully loaded. Nevertheless, even in current conditions we do not reduce or slightly reduce the volumes of transshipment”, commented Mikhail Skigin, Chairman of POT BoD.

The work on investment project, crucial for POT and the entire port, which began with the construction of a new 40,000-cbm tank, is underway with almost 50% of the main wall’s first belt completed. The double-wall technology applied for this tank construction ensures minimization of environmental risks and considerably reduces the area of construction. Investments in the construction are estimated at about RUB 1 billion.

Petersburg Oil Terminal is one of Russia’s terminals for transshipment of oil products in the Baltic Region. It is an advanced transshipment facility and one of the largest stevedoring companies of Big Port St. Petersburg. POT offers a hi-tech acceptance of oil products delivered by railway, river and road transport as well as shipment of oil products by road transport, sea-going ships and bunkering vessels. The terminal established I 1995 covers the area of 37 hectares and numbers 37 tanks for light and dark oil products. Its annual capacity is 10 million tonnes. In 2018, POT shipped over 7.5 million tonnes of oil products.