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Mon 6 Jun 2011 16:51

Loadings up for Lithuanian terminal


Terminal records rise in loadings and sales revenue in May.

Lithuanian oil terminal Klaipedos Nafta has announced that it reloaded 766,000 tonnes of oil products onto tankers in May 2011, 5 percent more than during the corresponding month last year.

Loadings were also 27.6 percent higher than the 600,000 tonnes achieved in April when Orlen Lietuva, a Lithuanian oil refinery and major client of Klaipedos Nafta, had a planned turnaround.

Also in May, the majority state-owned terminal unloaded 729,000 tonnes of oil products into its shore tanks, 2 percent less than in May 2010.

Revenues for the company in May were LTL 12.735 million (EUR 3.769 million), 16 percent higher than in May 2010.

Commenting on the results and on the company's strategy to bypass intermediaries, Klaipedos Nafta said: "The earnings of the company received during May prove that the chosen performance pattern to cooperate directly with the owners of oil products without intermediaries is both more profitable financially and more transparent."

During the first five months of this year, the terminal complex reloaded 3.3 million tonnes of oil products, slightly down from 3.4 million tonnes a year ago.

Klaipedos Nafta reloaded 7.9 million tonnes of oil products during the full year 2010.

Last month the terminal posted a 27 percent increase in net profit for the first three months of 2011 to LTL 8.65 million (EUR 2,51 million), compared to LTL 6.81 million (EUR 1.97 million) during the first quarter of 2010.

Sales revenue for the period increased by 10 percent to LTL 33.80 million (EUR 9.79 million), up from LTL 30.73 million (EUR 8, 9 million) last year.

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