Funding worth 12 million euros allocated by Luminor to Baltic Container Terminal
*The Lowdown on Luminor Bank's Financing Boost for Baltic Container Terminal*
In a move that is likely to supercharge the logistics sector in the Baltic region, Luminor Bank has dished out a whopping EUR 12 million in backing to Baltic Container Terminal (BCT), one of Latvia's heftiest container terminals nestled in the Freeport of Riga, Daugavgrīva. The funds will aid BCT in furthering their growth - by financing operational expenses, procuring new machinery, and enhancing their infrastructure.
"BCT isn't just a key player in Latvia's logistics sector, but a critical cog in the Baltic region's supply chain. This funding injection is more than just an investment; it's a bet on the industry's future, one that'll bolster the region's competitiveness and breed new possibilities. The terminal's success story to date can be attributed to a savvy team and years of accumulated knowledge. It's no wonder they're leading the pack and the fastest-growing container terminal in the Baltics, with 24/7 operations all year long," notes Ilze Zoltnere, Corporate Banking head honcho at Luminor in Latvia.
BCT, Latvia's largest container terminal and a formidable distribution hub in the Baltic region, made its grand entrance in 1996. The terminal's core activities span berthing ships, loading and unloading containers, storage and warehousing, container repair, and refrigerated container servicing, among other auxiliary services such as rail and truck cargo transport.
"BCT prides itself on offering quality service – we're not content with standing still; we're all about progress. We've already invested heavily in a state-of-the-art terminal management system and automation, propelling us to the forefront of information technology in the Baltic region. Thanks to Luminor's backing, we can now extend our handling capacity by buying new equipment and enhancing our services, all while fostering stronger partnerships and paving the way for our continued growth," says Gerard Sammut, BCT's CEO.
The terminal boasts collaborations with influential shipping powerhouses like MSC, Maersk, CMA-CGM, Yang Ming, Cosco, and OOCL, providing top-notch services and streamlined logistics solutions.
About BCT
Baltic Container Terminal (BCT) is a private container terminal situated along the Daugava River in the Freeport of Riga. The terminal's reputation as the swiftest-growing container handler in the Baltic States is built on a commitment to high-quality operations, unwavering adherence to quality standards, and productive, secure, and efficient workflow.
About Luminor
Luminor is a trailblazing bank in the Baltics, standing proudly as the region's leading independent bank and the third-largest provider of financial services. Our purview encompasses the financial needs of individuals, families, and businesses – just like our home markets of Estonia, Latvia, and Lithuania. Young, vibrant, and forward-thinking, we're more than just bankers; we're the driving force behind our region's economic growth and development.
[1] Baltic Container Terminal (BCT): A Powerhouse in the Baltic Region: https://www.balticcontterminal.com/news-2/
[2] Financial Times: Latvia attracts ever more foreign investment: https://www.ft.com/content/9faa28e6-0b8c-11e7-a98e-d3f4c4cddc0a
[3] Investment News: Luminor Bank backs Baltic Container Terminal development: https://investmentnews.lt/en/News/Luminor-Bank-backs-Baltic-Container-Terminal-development-0
[4] Baltic Sea Ports Organization: BCT - Baltic Container Terminal: https://www.bsports.eu/port/baltic-container-terminal-ltd-bct/
- The financing provided by Luminor Bank to Baltic Container Terminal (BCT) is not just an investment but a bet on the future of the industry, aiming to bolster the region's competitiveness and create new opportunities.
- BCT, a key player in Latvia's logistics sector and a critical component in the Baltic region's supply chain, is one of the fastest-growing container terminals in the Baltics, with operations running 24/7 all year long.
- With the help of Luminor's backing, BCT plans to extend its handling capacity by procuring new machinery and enhancing their services, while fostering stronger partnerships and paving the way for continued growth.
- BCT's core activities include berthing ships, loading and unloading containers, storage and warehousing, container repair, refrigerated container servicing, and rail and truck cargo transport, making it a formidable distribution hub in the Baltic region.
- BCT collaborates with influential shipping powerhouses like MSC, Maersk, CMA-CGM, Yang Ming, Cosco, and OOCL, providing top-notch services and streamlined logistics solutions, and prides itself on offering quality service and being at the forefront of information technology in the Baltic region.
