Ust-Luga Marine Trade Port in Leningrad Region has opened a new offshore terminal. According to company officials, the new terminal will be used for the processing and loading and general freight. Total freight turnover is planned to reach approximately 200 thousand tonnes per year.
The offshore terminal will specialize in the transfer of freight from river ships with a marine deadweight of up to 50 thousand tonnes. The depth of the water at the port has been increased to 16 meters. The port leadership is also working with several shipping agencies including Rusnautik Shipping Agency, Novag M and Morcenter-GEC to attract more business at the port.
The Ust-Luga Marine Trade Port company is a subsidiary of Ust-Luga Company, which was registered on May 29, 1992. Authorized capital stock is valued at USD 1.02 million and is divided into 62 thousand shares with a face-value of USD 16.51. The main shareholders are the Leningrad Region state property committee (27.33%) and united finance and industrial companies (21.9%). Shareholders, including four offshore companies, own 57.77% of the shares.
The Ust-Luga port is being built on the Luzhskaya inlet of the Finnish Gulf. After the completion of construction the port is expected to handle 35 million tonnes of freight per year. The port will specialize in the transfer of coal, general, timber and containers. In December 2001 a coal terminal was opened at the port.