During the first seven months of 2015 AS VENTBUNKERS transhipped 1.4 million tons of oil products. The largest portion of the amount transhipped equal to 1.2 million tons is dark oil products (fuel oil and vacuum gasoil).
Although dark oil products transhipment volume is 9% less than amount transhipped in the first seven months last year, the overall volume transhipped is considered as good, reaching over 200 thousand tons in several of the best months. It has to be taken into account that intensive capital repairs of the rail tank discharge track were performed during the whole first quarter meanwhile acceptance of the products was difficult, which had significant effect on acceptance and transhipment volume in the beginning of the year.
Contrary to the beginning of the year, when only dark oil products were transhipped, in the 2nd and 3rd quarters also light oil products (gasoil) was transhipped. Overall, in year 2015 0.2 million tons were handled which is 58% more than in the corresponding period a year ago. Though no light products were loaded on tankers in the beginning of the year, terminal’s light oil products transhipment and storage capacity was loaded enough as bulk light oil products were stored in the terminal’s reservoirs on behalf of the client.
AS VENTBUNKERS management keeps working intensively to maintain economic and technological advantages of the terminal during the current complex economic and geopolitical circumstances, and to retain the current level of transhipment volumes. Since March 2015 several important agreements are in effect with company’s core clients, which allows employment of terminal’s transhipment capacity of both light and dark oil products in 2015.
Simultaneously the Company is working on development of alternative operational activities. In July 2015, according to the results of a tender announced by the Ministry of Economy, JSC VENTBUNKERS concluded an agreement on rendering safety stock services securing the state with oil products reserves, providing establishment and storage of 2’200 tons of oil products reserves (category II) at the terminal.
In turn, the Company’s audited results of 2014 show that despite the tense situation in the transit sector, the Company has maintained its position which is positively reflected also in the financial statements. Despite the drop in revenue outcoming EUR 54 million, gross profit of 2014 was EUR 14 million exceeding gross profit of 2013 by 3% in the result of efficient Company’s operations. Whereas net income, which is affected by other revenue and expense and by dividends from associates and subsidiaries, reached almost EUR 17 million. In 2014 the Company has grown its equity and strengthened its liquidity ratios.
In 2014 the Company handled a total of 2.4 million tons of oil products. More than EUR 3.4 million had been contributed in taxes to the state and local budgets and the social security payments in 2014. It was reported before that JSC VENTBUNKERS was rewarded as the largest taxpayer in Ventspils municipal budget in 2014.
Also in 2015 the Company plans to work and show good results in handling freight volume, providing revenue and income, implying significant tax contributions to national and municipal budgets.