June 2nd, 20160Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has gone into liquidation.
The company's creditors will meet with its bankruptcy administrator in Vilnius on June 10 to discuss the liquidation process, claims and the sale of LSC's two remaining...
May 3rd, 20160Bankrupt Lithuanian Shipping Company (LSC) has sold two more bulk carriers at auction, which has raised $1.0m more than the vessels' combined reserve prices. Voruta (17,800 dwt, built 1998), currently anchored at Las Palmas, Spain, had a reserve price of €1.72m but was sold to the highest bidder for €2.25m. Similarly,...
March 1st, 20160Bankrupt Lithuanian Shipping is to sell its fleet of five small bulk carriers in a court-ordered auction, which will raise €8.4m if all the vessels meet their reserve prices. Venta (24,200 dwt, built 1995) has a reserve price of €1.9m; Deltuva (16,900 dwt, built 1994) has a reserve of €1.5m; Romuva (17,800 dwt, built 1998) is on...
December 15th, 20150The Klaipeda Regional Court started bankruptcy proceedings yesterday against financially troubled Lithuanian Shipping Company, which has been on the ropes for a long time. The line has assets of EUR31m and debts of around EUR22.5m, including EUR1.54m owed to employees, the court was told. Of these assets the majority are held as...
August 20th, 20150Vilnius: Natural gas supply and trading company LITGAS, part of Lithuania’s state owned energy holding Lietuvos Energija, and Norwegian energy giant Statoil are in the market for ships together, Maritime CEO can exclusively reveal today. Last month the two companies signed a memorandum of understanding (MoU) on to develop a joint...
July 24th, 20150Athens: Just hours after bankruptcy proceedings were begun against state-owned Lithuanian Shipping, the country's SEB Bank has stepped in with an emergency loan. The bankruptcy proceedings were withdrawn after a meeting was held today regarding the financial state of the company. The meeting was attended by the heads of Lithuania's...
March 7th, 20150Dallas: Delfin LNG has signed a preliminary agreement with Lithuanian natural gas supplier LITGAS whereby the Dallas-based Delfin would supply liquefied natural gas to the Baltic nation. Under the deal, a memorandum of understanding, LITGAS would contract processing capacity at the Delfin LNG deepwater port in the Gulf of Mexico. That...
March 2nd, 20150Oslo: Lithuania’s LNG importer Litgas says it will purchase LNG from the United States' first export terminal. The Lithuanin company has signed a non-binding deal with the terminal. The Baltic states and Poland want to cut their dependency on supplies from Russia. Russia’s Gazprom has been the sole gas supplier to the region...
February 21st, 20150Oslo: Oil and LNG terminal operator Klaipedos Nafta and Bomin Linde have signed an MoU on LNG bunker fuel. Germany’s Bomin Linde LNG will work together with Lithuania’s liquefied natural gas import terminal developer Klaipedos Nafta to increase LNG as marine fuel in the Baltic Sea, writes Reuters. The first LNG import terminal...
