Last year, KLASCO managed to achieve a positive change in cargo flows and revenue

After a significant loss of cargo flows at the port of Klaipėda in 2022 and a prolonged decrease of transit cargo in 2023, the largest stevedoring company in the port of Klaipėda, “Klaipėdos jūrų krovinių kompanija” (KLASCO), managed by the concern “Achema Group”, succeeded in achieving a positive change in cargo flows and revenues.

Although in 2024 transit cargo flows were decreasing, the total volume of cargo handled last year increased by 5.5 percent reaching 9.6 million tons (9.1 million tons in 2023), whereas revenue was 3.8 percent higher in comparison to 2023 (37.2 million euros) and amounted to 38.6 million euros. The profit of the Company before tax remained negative – last year KLASCO incurred a loss of 2.2 million (the loss in 2023 amounted to 2.4 million euros), but due to more efficient performance in 2024, EBITDA of the company was 17 percent higher in comparison to 2023 (4.5 million euros) and amounted to 5.3 million euros.

According to the CEO of the company Vitalij Muštuk, the business strategy of the company is focused on cargo diversification, therefore, the lost cargo flows from the East are partially compensated by cargo imported from the West through the port.

“A large part of the services provided by KLASCO is related to the export of cargo of Lithuanian origin (grain, fertilizers, etc.), which ensures partial utilization of terminal capacities in the event of disruption of established logistics chains,” summarised V. Muštuk.

In 2024, KLASCO maintained the strategic performance diversification and innovation implementation. The company purchased new universal loading equipment, which allows implementing the loading of oversized cargo and containers, moreover, the company also acquired a modern balance crane, which allows for a significant increase in the efficiency of bulk cargo loading.

Last year, the main investments were aimed into Smeltė Peninsula located in the southern part of Klaipėda port: after the completion of the first stage of terminal modernization and renovation works, the terminal began loading the first oversized cargoes – parts intended for Lithuanian onshore wind farm.

The entrance to the terminal in the northern part of KLASCO was reconstructed, new loading platforms were installed. Video surveillance systems were upgraded in all terminal areas. The total sum of investments in 2024 amounted to 6.9 million euros.