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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pan European Terminals | LSE:PAN | London | Ordinary Share | GB00B12V3082 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1656M Baltic Oil Terminals Plc 16 November 2006 16 November 2006 Baltic Oil Terminals PLC ("Baltic" or the "Group") First transhipment contract signed for OOO Torgovy Dom Kaliningradneft ("TDKN") The Directors of Baltic are pleased to announce that the Group's wholly owned subsidiary, Baltic Hydrocarbons Limited ("Baltic Hydrocarbons"), has entered into a shipping agreement on behalf of TDKN, in which the Group has a 51 per cent equity interest, with GT Trading OY ("GT Trading"), which itself is owned as to 35 per cent by Trafigura Beheer BV, the major oil and commodity trading group. Under the agreement, GT Trading has contracted to ship gasoline, on a take or pay basis, through TDKN's managed oil and refined product export transhipment terminal located within the Russian Naval base at Baltysk, Kaliningrad. The agreement provides for transhipments, during a trial period until 28 February 2007, of 15,000 tonnes in November, increasing monthly thereafter up to 30,000 tonnes in January. Upon satisfactory conclusion of the trial period, GT Trading will be contracted to tranship 30,000 tonnes per month until 31 December 2007 and has an option to utilise the balance of TDKN's capacity over that period. GT Trading will pay a fixed sum per tonne supplied, or a proportion thereof for unutilised capacity, out of which Baltic Hydrocarbons will deduct a 5 per cent handling commission. TDKN has separately extended each of its local operating agreements for a new term of five years, as a result of which US $1.26 million (#0.67 million) of consideration and loans due from the Group, under the agreement through which the Group acquired its 51 per cent interest in TDKN, is now payable. The Directors anticipate that TDKN's transhipment capacity will reach 200,000 tonnes per month by August 2007. Commenting on the new contract, Simon Escott, Chief Executive of Baltic, stated: "This is a further major step in the evolution of the Group as, not only do we commence export transhipments this month, but we have also contracted 30,000 tonnes per month throughout 2007. "The construction of Tetoil remains on track and on budget, and continues to be expected to contribute to the Group's total transhipment capacity in January 2007". ENDS For further information, please call: Baltic Oil Terminals PLC Simon Escott 020 7667 6371 Robert Wilde 01908 547 920 Financial Dynamics 020 7831 3113 Billy Clegg Ed Westropp This information is provided by RNS The company news service from the London Stock Exchange END CNTGUGAWGUPQGMA
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