September 20, 2011 [Baltic Business News] - Chairman of Estonia’s largest oil terminal operator Vopak E.O.S. Arnout Lugtmeijer believes that, contrary to the fears of Estonian Railways, the Ust-Luga oil port in Russia will have a positive effect and will not attract business away from Muuga, writes Äripäev.
“Ust-Luga is increasing transhipping volumes. While it will undoubtedly influence the market, it would also make this region more attractive to big players on the oil market. We in Vopak E.O.S. have a unique service portfolio in this region and our customers value it highly,” said Lugtmeijer who has been running the company since 1994.
“This region needs new logistics ports that could handle the growing cargo flows. Export demand for oil products has grown notably in recent years. The heavy fuel oil segment alone has expanded 50% in five years,” he added.
Speaking of Estonia’s opportunities, Lugtmeijer says that the country is ideally positioned to become the logistics centre for Northeast Europe, a place where demand from the west meets supply from the east.
