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Petroleum products sold in previous transactions will continue to be loaded in Klaipeda, Klaipedos Nafta announced via the Nasdaq Vilnius Stock Exchange.
According to her, BNK has indicated that it will inform when exports will resume in full. However, if the uncertainty continues, it could affect next year’s results.
“The company makes every effort to quickly discover the specific need for the services provided to the customer by 2021 and to adequately prepare for any business scenario,” said Klaipedos Nafta.
According to Mindaugas Navikas, Commercial Director of Klaipedos Nafta, until BNK resumes the usual export volumes via Klaipeda, there is a real possibility that the Belarusian cargo will not be transported to Lithuania, so it is necessary to prepare for various scenarios.
“Currently, we work with clients in Belarus in the usual way, we have scheduled the load for the near future. However, we understand that the client’s decisions are probably not dictated by economic logic, but political, which we cannot control,” he said M. Navikas in the report.
According to the company, all contracts with BNK remain valid, but the obligations derived from them are suspended indefinitely.
According to Navik, given the uncertainty about the situation in Belarus, the company spent this year looking for new alternatives, including oil storage services, whose demand grew this year due to the coronavirus situation and low refining margins.
“Currently, we have already entered into several contracts for this service, including leasing contracts for gasoline tanks. We see this as a fairly stable alternative to handling light oil products, ”he said.
In addition, the company plans to expand the scope of ship-to-ship handling operations.
“Currently, the terminal handles a double-digit amount of cargo in different positions, such as conventional petroleum products, petrochemicals and various biofuels. (…) We plan to further diversify the portfolio of products and services to avoid dominance of a client or a burden, ”said M. Navikas.
Klaipedos Nafta has been cooperating with partners in Belarus for more than ten years.
During the twelve months of this year, Klaipedos Nafta received 23.7 million LTL from the oil handling business. revenue (23.9 million euros last year) and 6.7 million euros adjusted net profit (7 million euros).
In late August, Belarusian President Alexander Lukashenko said he was ready to issue retaliatory sanctions against Lithuania and Poland, which then intended to take action against the authoritarian leader on suspicion of election fraud and police violence against protesters.
According to him, Belarus will refuse to use Lithuanian ports for the export of its products; potassium salt and petroleum products are mainly exported through them.
In early October, it threatened to “participate” in the cargo flows from Lithuania and Latvia. In addition, he said that Belarus and Russia are now discussing the reorientation of Belarusian cargo (petroleum products, potash fertilizers and other goods) from the Baltic ports to the port of Ust-Luga.
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