Petersburg Oil Terminal increased shipments of oil products by 18% in 9M'2020
POT says its share in Russia’s North-West market of oil products was about 13% in January-September 2020
Despite the coronavirus pandemic and oil market crisis, Petersburg Oil Terminal (POT JSC), increase oil product handling in January-September 2020 by 18%, year-on-year, to 6.95 million tonnes, POT reports.
According to the company’s statement, the fastest growth, by 25%, was registered in the first half of the year. Russian terminals were able to build up handling volumes thanks to the warm weather. However, the third quarter saw a decrease of shipments to 2.4 million tonnes, by about 5% versus the second quarter.
Mikhail Skigin, Chairman of POT BoD, forecasts further decrease in the fourth quarter due to the market and season factors.
“The decrease proved to be less dramatic than it was expected in spring … due to lifting of some constraints and recovery of the economy in summer. However, the market is again in a state of uncertainty with most European countries toughening their restrictions and consumption of oil products decreasing amid the second wave of the pandemic. Meanwhile, the fuel accumulated in the tanks in the first half of the year has not been shipped yet”, says Mikhail Skigin.
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 in 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 2019, POT shipped over 7.9 million tonnes of oil products.