bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Sunday 25.06.2017 | Name days: Maiga, Milija
LatviaLatvia

VNT: there are no equal business development opportunities in Ventspils

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAs before, Ventspils Freeport board reported misleading information about the transshipment volume of Ventspils nafta in its 10 August report on cargo turnover of Ventpils port terminals.

VNT Managing Director Lars Pantzlaff comments: «The assessment of the terminal’s capability only by considering actual transshipment volumes is not correct. VNT represents the biggest petroleum product storage and transshipment company in Baltics, and is transshipping on average 9-10 million tons of products annually. The indicators that rather determine the potential of a terminal are not only the transshipped volumes, but also market conditions, terminal infrastructure, terminal services, operational efficiency, the competence of employees, the cost of transportation to the terminal, port performance, legislative framework and business friendliness of the environment it operates in. An assessment of all those together allows for a better judgement whether a terminal uses or can use its full potential. Therefore the statement of Ventspils Freeport Authority about the performance of VNT is not objective and misleading.»

As a company, VNT has been performing stable over the years not only in the context of cargo turnover but also with respect to safety and quality of operations, financial performance, including tax payments. Also, VNT proved its attractiveness as an employer, and its quality operations are recognized among its customers. Those aspects together are better indicators of its health.

And while VNT’s performance is within expected range, the company has already stated repeatedly that it sees opportunities to grow its business, which can be achieved better if the local environment is more supportive of the company to run and develop its business. This refers to environmental projects, such as the Vapour Recovery Unit (VRU) sought by VNT.

Ventspils Freeport Authority and city officials point out that cargo volumes are decreasing and therefore welcome new cargoes of any type coming to Ventspils port. However, the same city officials raise serious public concerns about VNT’s plans to expand its range of products for transshipment, even though those products are meant to be handled only in connection with the VRU the company is trying to install for a long time. VNT emphasizes that such operation with the same products is already being performed by other companies in Ventspils Freeport and hence it cannot be considered either as anything new or as harmful.

Double standards

The application of different standards by local authorities to businesses in Ventspils are also clearly documented via official resources. For instance, specific port companies are able to operate without permits for polluting activities despite public complaints and legal requirements.

VNT considers compliance with state and local regulations a non-negotiable and integral part of its business. However, such individual cases within the same operating environment suggest that there is significant room for interpretation by local authorities as to how to treat applications by different companies and thus distorting development possibilities in Ventspils.

VNT has repeatedly emphasized that it encounters a number of bureaucratic obstacles with respect to its temporary and permanent VRU projects that not only delay implementation of good environmental practices but also affect cargo volumes and transshipment efficiency.

Lars Pantzlaff states: «Overall, VNT fully supports the growth and new operations in Ventspils Freeport, because the port’s performance is beneficial for the city and the state. However, the application of equal standards would contribute more to the development of the port, as well as enhancing transparency and predictability. Unfortunately, this is not the case in Ventspils.»

VNT provides transit services – receipt, storage and handling of crude oil and petroleum products that come by pipelines, rail tank cars and tankers. VNT is a technologically advanced terminal and the largest crude oil and petroleum products transshipment company in the Baltic States with a total tank capacity of 1.2 million cubic meters. 51% of VNT is owned by JSC Ventspils nafta, which is one of the largest business groups in Latvia.

Ref: 102.109.109.6792


Leave a reply

Real estate purchase «pain threshold» in Latvia – EUR 100,000

In relation to the possibility of purchasing a new home, Latvian residents view EUR 100,000 as the «pain threshold». The critical border for new project apartments is 1,300 EUR/m2. For standard apartments it is 1,000 EUR/m2. For private homes it is 1,600 EUR/m2, according to results of a study by PrivatBank.

Lembergs & Co. gathered to discuss «problems» of the high and mighty

Political businessman Ainars Slesers held a friendly discussion with his associates – Aivars Lembergs, Andris Ameriks, Janis Urbanovics, Janis Duklavs and Valerijs Kargins – at Ridzene Hotel. The group discussed toppling Valdis Dombrovskis’ government, replacement of multiple high-ranking officials and the possible sale of pieces of land within Riga Freeport’s territory, according to transcripts from the conversation published by Ir magazine and provided by anonymous sources.

Lithuania set to limit cash payments to 3,000 euros

The Farmers and Peasants-led Lithuanian Cabinet has approved a draft bill envisioning restrictions on use of cash, limiting the kind of settlements up to 3,000 euro.

Saeima establishes indexation increase for pensioners with high seniority

On Thursday, 22 June, Latvia’s Saeima approved Social and Employment Matters Committee’s prepared amendments to the Pension Law in two readings, ensuring greater pension indexation for multiple pensioner groups next year.

Romanian Parliament ousts Grindeanu government

The Romanian government of Prime Minister Sorin Grindeanu has not survived a no-confidence vote and has fallen after less than six months in power.

Rail Baltica agreement will allow trains to travel at 240 km/h

Saeima of the Republic of Latvia will soon ratify Rail Baltica agreement, which is expected to allow passenger trains to travel at a speed of 240 km/h instead of 120 km/h. Higher travel speed will also ensure cargoes from Tallinn reach Poland within two days.

Mamikins: Latvia is becoming a landfill for rich European countries

A very large fire took place at an illegal landfill in Jurmala this week. According to information from the State Environmental Protection service, the fire had engulfed 23 tonnes of waste, mainly plastic waste, says Latvian MEP Andrejs Mamikins.

Latvian businessmen use e-commerce opportunities for business development

With e-commerce volumes growing around the world, Latvian businessmen use it more and more often for business development, including exports of goods and services. As noted by DPD, the number of packages sent to foreign countries grew 22% last year.

Latvia wishes to change its state president’s election process

Reviewing proposals to change the state president’s election process, Saeima’s Legal Affairs Committee decided to submit proposals developed by the work group to different Saeima factions for review, as BNN was informed by Saeima’s press-service.

Coalition parties close to making final decision with tax reform; no more obstacles

Coalition parties no longer have any more differences of opinions in regards to tax reform principles. Parties are close to making the final decision, said Economy Minister Arvils Aseradens after the meeting with Finance Minister Dana Reizniece-Ozola.

Saeima plans to introduce personalized voter cards

For next year’s Saeima elections, voters who only have an ID card and no valid passport are planned to be provided with personalized voter cards.

Producer price level in industry up 0.4% in Latvia

Compared to April, the level of producer prices in Latvian industry grew by 0.4 % in May 2017. The prices of products sold on the domestic market increased by 0.3 %, whereas the prices of exported products grew by 0.5 %. The prices of products exported to euro area countries grew by 0.8 % and of products exported to non-euro area countries – by 0.4 %.

Opinion: local media in Daugavpils are corrupt

«Now that we constantly face new and more elaborate security risks, concerns tend to increase about the fight for people’s minds in the information space. This is why the bar for professional journalists should be held high. Baltic Centre for Media Excellence plays an important role in all this,» said chairman of Saeima’s Foreign Affairs Committee Ojars Eriks Kalnins after the meeting.

Life in Riga remains more expensive than life in Vilnius and Tallinn

Riga is recognized as 126th most expensive city in the world. Life in the Latvian capital is considerably more expensive than it is in Vilnius or Tallinn, according to a study published by *Mercer Human Resource Consulting.

Most universities in Estonia to cut number of new students this year

Three of the four universities working in Estonia have expressed plans to bring down the number of admissions in the coming academic year.

Foreign investors do not support amendments proposed for Financial Instruments Market

The Foreign Investors Council in Latvia does not support proposals for protection of rights of minority shareholders, which are include and proposed in amendments to the Law on the Financial Instruments Market.

Ligo celebration causes condom sales to go up in Latvia

Nearly 39% Latvian residents plan to spend around 21 to 40 euros on Ligo, according to results of a survey performed by Maxima. 22% of respondents plan to spend around 20 euros on the celebration. 22% of residents plan to spend 41 to 60 euros, and 17% - more than 61 euros.

Latvian government asked to compensate profits lost from rejecting Nord Stream 2

Considering the stance of the Latvian Republic in relation to Nord Stream 2 project, in which the Cabinet of Ministers decided not to permit the participation of Ventspils Freeport, Noord Natie Ventspils Terminal and Baltic Express have decided to ask the government to compensate lost profits. An official request has been submitted to the prime ministers.

Hospital: countryside residents with no easy access to a urologist are at risk

For the third consecutive year urologists from Riga Eastern Clinical University Hospital’s travel to Latvia’s far-away regions to provide men there with free health check-ups and consultations. This year urologists decided to visit Dobele, Cesis, Rezekne and Jekabpils.

Stoltenberg visits Iron Wolf exercises in Lithuania

NATO Secretary General Jens Stoltenberg has visited Lithuania on Tuesday, June 20, to see international military drill Iron Wolf 2017 and has noted that the involved countries are protecting each other.

German Chancellor could support introducing eurozone budget for sensible purposes

Angela Merkel, the Chancellor of Germany, has stated that she could support the introduction of a separate eurozone budget and a position of an eurozone finance minister, in case of right circumstances and sensible aims.

Prosecutor decides to end criminal case against former KNAB officer Juris Jurass

In spite of the decision by Security Police to present charges, the prosecutor responsible for the case has decided to end the criminal process commenced against the now former official of Corruption Prevention and Combating Bureau Juris Jurass for intentional disclosure of official secrets.

Latvia wants to introduce electronic working time tracking in construction

Saeima’s Budget and Finance Commission has expressed unanimous conceptual support for amendments to the Law on Taxes and Duties. These amendments provide for the introduction of electronic working time tracking system in construction, as BNN was informed by Saeima’s press-service.

Alleged bomber shot in Brussels central station

In the central station of Brussels, Belgium, soldiers have shot a man suspected he was to detonate explosives, local authorities have stated. The man was shot and later died after reportedly setting off a small explosion on Tuesday, June 20, and no-one else is believed to have been injured.

Expert: pension capital grows, but the Latvia still has a ways to go

«Latvia’s pension system has been named one of the best in the world multiple times. Pension capital in it has grown rapidly over the years. The volume of savings gathered on the 2nd level pension system by the end of Q1 2017 came close to EUR 3 billion. The volume saved on the 3rd level pension system was close to EUR 4 billion,» explains Nordea Pensions Latvia board member Ilja Arefjevs.

Newest comments