Capacity usage high at Baltic Oil

29th Jun 2010 07:02

Oil products terminals owner Baltic Oil Terminals said it is in good shape for the second half of 2010 as it is performing better than it expected as it markets recover from the Russian crisis.Trading conditions in Kaliningrad remain favourable, which has allowed the company's Rosbunker terminal to operate at consistently high levels of capacity. This trend is expected to continue until the Volga River closes for winter, at which point the terminal's competitive position in the region becomes stronger, as Kaliningrad is the only Russian ice free outlet into the Baltic market.The Baltic Top terminal is continuing to operate at full capacity and could do with being enlarged, the company said. "In June TDKN terminal began contributing to our bottom line for the first time, under the lease arrangement that we have entered into. We consider this to be an important sign of the more favourable conditions existing in the region," Baltic's chairman Richard Healey said."Together with the efforts we have made to reduce overheads and remove other distractions, we are performing better than we expected a year ago," Healey added.