Released: 11/12/2009
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RNS Number : 9551D
Baltic Oil Terminals Plc
11 December 2009
11 DECEMBER 2009
Baltic Oil Terminals PLC
("Baltic" or "the Group")
Rosbunker Update: Strong November Volumes
Baltic owns and operates oil product terminals in the strategically vital Russian port of Baltysk, Kaliningrad on the
Baltic Sea and through its subsidiaries is engaged in matched refined oil product trading.
On 5 November 2009, Baltic reported that over 60,000 tonnes of product was trans-shipped through the Rosbunker terminal in
October, the highest ever monthly volume of product achieved. Baltic also reported that pre-bookings of client product
were higher than any previous level achieved at that time of year.
Baltic is now pleased to report that the volumes of oil products trans-shipped through the Rosbunker terminal in November
exceeded both expectations at the start of that month and October's volumes. The outlook continues to be positive, with
strong pre-bookings for December. The Volga River has now frozen, making Kaliningrad the only Russian ice free port in the
Baltic Sea for the remainder of the winter
Enquiries:
Baltic Oil Terminals plc Tel: +44 (0)20 3145 1908
Simon Escott, Chief Executive
Arbuthnot Securities Limited Tel: +44 (0)20 7012 2000
Alastair Moreton, Corporate Finance
Pelham PR
Archie Berens Tel: +44 (0)20 7337 1509 / +44 (0)7802 442486
About Baltic Oil Terminals
Over the last four years, Baltic has built up a terminals business in the Russian ports of Baltysk and Kaliningrad. A
separate enclave located between Poland and Lithuania, Kaliningrad is Russia's only year round access to the Baltic Sea.
Other ports in the region, such as St Petersburg, are frozen for much of the winter, as are many rivers, including the
Volga River, one of the most significant commercial waterways in the world. As Russia relies on year round export of its
vast supplies of petroleum products, Kaliningrad is thus a trading centre of major strategic importance.
Baltic's key asset is a 50% interest in the Rosbunker terminal, which is located at Baltysk, right on the Baltic Sea at the
mouth of the Pregol River leading into Kaliningrad. It is the only port in the region at which all types of ship can take
on cargo, as the channel into Kaliningrad is too shallow for many vessels. Trains are able to deliver products from all
over Russia, the Former Soviet Union and Asia directly to the terminal.
Since 2007, the Rosbunker terminal has been handling consignments of oil refined products, specialising in fuel oil
(mazut), a product that requires heating and special equipment and as such is not handled by other terminals in the area.
Baltic earns tolling fees for processing the unloading of cargo from trains into storage tanks and then onto vessels.
Baltic is also able to trade in these products in its own right, taking advantage of local price differences. Since the
financial crisis in Russia, this market has become increasingly interesting to Baltic. Baltic's transportation and trading
activities utilises its extensive network of industrial partners and refineries.
In addition to Rosbunker, Baltic also has interests in several other oil product assets in Kaliningrad, which derive
revenues through processing and distribution of oil products to domestic markets.
Baltic's executive management have a wealth of experience of the oil services industry. The team has worked in the industry
for more than 40 years, constructing and operating oil rigs, terminals and other infrastructure in world wide locations,
including the Former Soviet Union.
Baltic has been listed on AIM since May 2006. It is headquartered in Kaliningrad, with a small representative office in
London.
This information is provided by RNS
The company news service from the London Stock Exchange