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In nine months the amount of products transhipped by JSC “Ventspils nafta” subsidiaries — stable

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In nine months the amount of products transhipped by JSC “Ventspils nafta” subsidiaries — stable

october 17, 2014 / Ventspils nafta

In the third quarter of 2014 ““Ventspils nafta” terminals” Ltd. (VNT), subsidiary of JSC “Ventspils nafta”, transhipped 2.05 million tons of oil and petroleum products. But transhipment amounts of “LatRosTrans” Ltd. (LRT) in the same period of time reached 1.35 million tons, which is 36 % more than in corresponding period of 2013.

Total amount of products transhipped by LRT in the first nine months this year was 4.68 million tons, which is 2 % more, compared to the same period of time last year.

When commenting on VNT results of the first nine months of 2014, company’s management emphasises that the amount of transhipped petroleum products has increased slightly compared to last year, from 8.0 million tons up to 8.47 million tons. In total 45.3 % of the transhipped amount has been supplied to VNT by railway or sea, whereas 54.7 % were received by pipeline.

Management of JSC “Ventspils nafta” Group indicates that results of the nine-month period reflect on the plan and justify the forecasts. Stable performance indicators of subsidiaries are also planned in the fourth quarter of this year.

 

About JSC “Ventspils nafta” 

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and it operates in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils nafta” is Group’s parent company, which manages investments in subsidiary companies by promoting Group’s joint values and growth in the value of each individual company.

JSC “Ventspils nafta” owns 51 % in “”Ventspils nafta” terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltic States; 66 % in “LatRosTrans” Ltd, which is the largest Latvian-Russian joint venture in the Baltic States; 49.94% in JSC “Latvian Shipping Company”, which is among the largest vessel owners in the world in the segment of medium and handy size tankers.

Shares of JSC “Ventspils nafta” (NASDAQ OMX RIGA: VNF1R) are quoted in the Baltic Official List of the stock exchange NASDAQ OMX Riga since October 20, 1998.