Baltic Coal Terminal at the port of Ventspils is forecasting 4mt (million tonnes) of coal will pass through the terminal this year. MPO Kuzbas, which has a 50% stake in the business, and the Siberian Business Union, are the two main users. Company chairman Igor Sokolov concedes that there will be competition with the Russian port of Ust-Luga for coal business in the Baltic Sea.
Coal from the terminal, which can accommodate Panamax vessels of up to 75,000dwt, mostly goes to the UK, Belgium, Spain and Morocco.
Baltic Coal Terminal.
The phase 2 development of the terminal, which will cost €50 million, is slated for completion by 2014, although this will also depend to a certain extent on prevailing market conditions. Under the plan, covered storage of up to 420,000 tonnes will be available to MPO Kuzbas as well as other customers. Currently, covered storage amounts to 210,000 tonnes, although the terminal can handle 6mt a year, thanks to investment of €80 million.
Barry Cross