OREANDA-NEWS. May 20, 2009. B.L.B. Baltijas Terminals, one of the largest stevedore companies operating in the Riga port in the Latvian capital and reloading oil products, in 2008 generated a turnover of 4.884 million lats (EUR 6.95 mln) at a 44.3% growth from 2007, but the company's profit shrank 2.9 times to 251,900 lats, according to the financial statements for 2008 published in the Latvian business register database.

The company's management said that 98% of the cargos handled by B.L.B. Baltijas Terminals are transit shipments from the eastern bloc to the Western market. In the coming years the company expects to maintain cargo turnover on the existing level and also plans to build a new pier.

In 2007, B.L.B. Baltijas Terminals posted a turnover of 3.384 million lats and earned a profit of 719,600 lats.

Founded in 1994, B.L.B. Baltijas Terminals operates in the business of reloading and storage of various oil products and chemicals. Its largest shareholder is CNP Investments N.V. that holds 92,3% of the company's shares.