Latvian Shipping Company Riga based tanker and biller owner said it had offloaded its stake in pipeline company Latvijas Naftas Tranzits (LNT) to fuel supplier Ventbunkers, based at the port of Ventspils. Latvian Shipping Company had 16% of LNT through its subsidiary Skonto Nafta. The price was EUR 15.4m ($17.53m), which includes the repayment of a EUR 2.1m loan from Skonto Nafta to LNT. The cash will repay Latvian Shipping Company's loans from its major shareholder, Ventspils Nafta, controlled by oil trader Vitol.
Dry Bulk Shipping News - Shipbroker Notes