• 2021 February 19 11:49

    New opportunities for Latvian timber exports to the USA

    At the beginning of February, a large vessel with Latvian timber products to be exported to the USA was loaded at the Riga port company “KS Terminal”. The 200-meter-long bulk carrier “Kambos” left Riga sailing to the port of Houston in the USA with 20,000 m3 of wood particle boards, which were made at the Latvian plant of the company “Kronospan”, Freeport of Riga says in a press release.

    The transshipment volumes of Latvian wood processing products in the port of Riga are growing every year. Last year, 6 million tons of various timber products was handled at the terminals of the Port of Riga, ranking them at the top of the largest cargo groups of the Port of Riga providing a quarter of the total port portfolio. The largest timber market for Latvian exporters is European countries, which can be reached by large vessels - bulk carriers. Vessels of this size regularly arrive at “KS Termina” berths for loading forestry cargo.

    Latvian exporters are shipping timber cargo to the US markets on a regular basis, but this is usually done in smaller quantities and in containers with transshipment in Rotterdam, or in one of the other major European container ports. Container cargo transshipment via other ports is undoubtedly much more expensive than sending cargo directly from Riga to the final destination, and there is a certain impact on the competitiveness of Latvian wood processing exports.

    “We hope that this first project, with a large consignment of wood industry products directly to the United States, will serve as a signal for Latvian timber producers and exporters to unite, consolidate large-scale freight and deliver directly to the US market. This could be particularly relevant at a time when, as a result of the global crisis caused by the Covid-19 pandemic, containers in Europe are not available in the required quantities and are disproportionately expensive. At the port terminal, we can provide cargo reception, consolidation, storage, processing and other logistics processes for handling such cargo,” emphasized Ēriks Cešeiko, Chairman of the Board of SIA “KS Terminal”.

    Kristaps Klauss, the Head of the Latvian Forest Industry Federation, also describes the US market as a promising one for Latvian timber producers: “The US market is like a lottery, it is a market of great opportunities. Currently, the prices for timber products in the US market are fantastically high, and those Latvian companies operating in the US market from last summer until now have won this lottery.”

    The forestry sector in Latvia produces a very wide range of products, and more than 80% of the production is exported. Latvian wood processing products are exported to more than 100 countries every year. “The volumes and geography of timber exports are definitely expanded by the possibility of freight delivery via Latvian ports. Latvian exporters are already actively working with countries such as China, Japan, South Korea and the countries of the Middle East, and now their interest in the US market is growing”, added the Head of the Latvian Forest Industry Federation.


2021 March 2

19:00 Zelenodolsk Plant lays down two high-speed passenger hydrofoils of Project 03830, Meteor-2020
18:45 Crowley promotes Dan Warner to Chief Financial Officer
18:05 The RSS Sir David Attenborough delivered to LR Class
17:54 Manufacture of auxiliary drilling modules for ice-resistant platform LSP “A” is underway
17:47 TORM purchases eight MR product tankers with chemical trading capabilities from TEAM Tankers in a partly share-based transaction
17:39 Inchcape’s new Port Cost Estimator is missing link in voyage cost puzzle
17:28 CMA CGM acquired a 50% interest minus one share in TTIA container terminal in Algeciras, Spain
17:25 First hydrogen filling station opened in Amsterdam port
17:21 Framo will supply pumping systems for foundations of Scotland’s largest offshore wind farm project
17:06 Haldor Topsoe joins Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as Strategic Corporate Partner
16:21 USCG, partners rescue two pilots from downed aircraft off Lanai
16:15 The Prax Group agrees exclusive crude oil supply arrangement with Trafigura
15:48 Ardmore Shipping takes on commercial management of four Carl Buettner chemical tankers
15:47 Ocean Infinity acquires MMT
15:00 Bunker sales at Vladivostok port in 2M’2021 fell by 34% YoY
14:38 Tenderers sought for upcoming Port Hedland channel marker project
14:22 Local contractor wins Mt Bassett water reservoir demolition job
13:46 Mega RO-RO vessels handled in record time thanks to investment by PSA Zeebrugge
13:16 Wallenius Wilhelmsen returns three more vessels from cold lay-up
12:08 CMA CGM introduces PSS for cargo from Pakistan to North Europe, Scandinavia, Poland, Adriatic, North Africa, Morocco & the Mediterranean
12:01 Port of Antwerp carries out the first trial for increasing draught on the Western Scheldt river
11:42 Throughput of port Azov in 2M’2021 surged by 68% YoY
11:09 Four companies join forces in HAV Group ASA
10:55 Port of Tallinn comments on the claim filed by Tallink
10:38 Tallink Grupp brings legal action against Port of Tallinn
10:09 Port of Vancouver cargo throughput increased by 1% to 145.5 million metric tonnes in 2020
09:51 Oil shipments via CPC Marine Terminal in 2M’21 fell by 8.4% YoY
09:49 MABUX: Bunker market this morning, Mar 02, 2021
09:34 Oil prices go down in expectation OPEC+ meeting
09:18 Ports of Bremen container throughput down by 1.4 per cent to 51.1 million tons in 2020
09:09 Baltic Dry Index as of March 1
08:00 TORM purchases eight MR product tankers
07:53 Diana Shipping announces time charter contract for m/v Ismene

2021 March 1

17:39 Depth 2021 competition opens in the framework of the International Army Games
17:17 Vitol launches Green LNG offering
16:48 CMA CGM introduces PSS for cargo from/to North Europe to/from the Mediterranean & Black Sea
16:12 World’s largest steel company, China Baowu Steel Group, and Sibanthracite Group become strategic partners
15:34 NUTEP terminal sets new record of container handling
15:30 APM Terminals Kalundborg now operational
15:26 SEACOR Marine signs the Neptune Declaration on Seafarer Wellbeing and Crew Change
15:11 RF Navy’s small missile ship Orekhovo-Zuevo passes the Black Sea straits towards the Mediterranean Sea
13:33 Average spot market price for Russian M100 product climbed to RUB 22,193 pmt
13:12 Port of Antwerp to launch a new shipping guidance system
12:46 MOL to expand sharing of ship operation data
12:37 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
11:48 China ports container volume rises 13.2% in January of 2021Ningbo Containerized Freight Index keep rises in February
11:46 Russian Railways' network loading declined by 0.9% in 2M’2021
11:23 Global maritime leaders to exchange ideas at Singapore’s Annual Maritime Public Leaders’ Programme
10:59 Nevskaya Environmental Dredging Company supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
10:41 New research: unlocking a triple-win for UK ports and shipping
10:25 MABUX: Bunker market this morning, Mar 01, 2021
10:10 Austal Philippines delivers largest high speed ferry constructed in The Philippines
09:28 Week starts with oil prices increase
09:12 Baltic Dry Index as of February 26

2021 February 28

16:13 ADNOC Logistics and Services announces strategic fleet expansion with acquisition of 6 VLCCs
15:41 Deltamarin introduces the new LNG-powered Kielmax Container Feeder design
14:07 USCG Cutter Kimball conducts maritime presence patrol in Pacific
13:29 Solstad announces contract awards in Australia
12:46 Rauma Shipyard restarts production gradually with stricter controls in place
11:03 JAXPORT to host free virtual training event for Northeast Florida small businesses