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VNT has transhipped more than 6 million tons in H1 2013

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VNT has transhipped more than 6 million tons in H1 2013

july 3, 2013 / News

Ventspils nafta terminals (VNT), a subsidiary of JSC Ventspils nafta, transhipped 6.25 million tons of oil and oil products in the first half of 2013, with the largest volume of 1.34 million tons being transhipped in March.

Lars Pantzlaff, General Director of VNT, stresses: “The markets for fuel products are constantly in motion and ever changing. In 2013 we see the effects of both, the global economic situation and regional politics, affecting product flows. Though in this environment our throughput volumes are meeting our expectations and we remain an important part of the logistics chain in Latvia.”

VNT handles almost 50% of total liquid cargo in Latvia. It is also the largest oil product terminal in the Baltic States and handles about 20% of all liquid cargo transhipped through the ports of Latvia, Lithuania and Estonia.

“Being part of the logistics chain, the operational efficiency / flexibility and competitiveness of VNT, and oil terminals in general, remains a top priority to secure future product flows and thus assuring successful company performance in the future" emphasizes Pantzlaff.

About VNT

VNT provides transit services − the receipt of crude oil and petroleum products via pipelines, rail tank cars and tankers, as well as their storage and transhipment. VNT is technologically the most advanced and largest crude oil and petroleum product transhipment company in the Baltics with the total tank storage capacity of 1.2 million cubic meters.

51% of VNT is owned by JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R), which is one of the largest groups of companies in Latvia.  JSC Ventspils nafta is the Group's parent company, which manages investments into the companies within the Group, thus facilitating the growth in the overall value of the Group and its individual companies.