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Issue No. 26, May 5th, 2006 |
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This
Month's Features: Tallinn Special Baltic's grand Port of Tallinn continues to dominate Tallinn named European Culture Capital 2011 Likely delay in Euro Introduction Spring is here again... Port of Rotterdam enjoys fruits of growing world economy Joke of the Month Customs Corner Amazing statements Sponsor the Johan Cruijff foundation Vulcaanhaven sponsors Sparta Rotterdam Contact Information |
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TALLINN
Special When Rotterdam is the
main Port of entry into Europe, Tallinn is exactly that for Russia.Great facilities in an ice free Port, an EU member, high investment volume, great working mentality. And Vulcaanhaven covers both areas! Below mentioned please find articles that refer to Tallinn, the Estonian economy and what it can do for you. Any requirements in Tallinn? Please contact Ms. Tatjana Boiko: info@vulcaanhaven.ee  Likely delay in Euro Introduction As a result of high inflation rates Estonia and neighbouring Latvia are likely to postpone their adaption of the euro. EU memberstate Slovenia on the other hand meets all criteria to join the euro zone in 2007 according to a recent statement of the European Commission.  Inflation in Estonia is fuelled
by rapid economic growth. In December
inflation rate in Estonia was 4.1 percent, while entry criteria
target
2.6 percent at the moment. Estonian government has ruled out measures
like cutting tax on food to bring consumer prices down. The Estonian
Ministry of Finance that before end of 2006 inflation would be brought
down to an average of 3.0 percent.However that would be too late for entry in 2007 as commission and the European Central Bank plan to issue their reports on euro eligibility in June. Criteria for entry were set in the Maastricht treaty and set limits on inflation, budget deficits, debt levels, and interest rates, and demand high level of currency stability. In the end though it is the EU government leaders who will make the final decision. Although the Estonian government stated that introduction of the euro was a priority, a recent poll showed that a majority of the Estonians now oppose introduction of the euro. The man in street worries that the transition to the euro will trigger price hikes. Supporters, 40 percent of respondents, predominantly male, ethnic Estonians under 51 and people with high incomes expect that introduction will make it easier to travel to other countries. |
 TALLINN named
European Culture Capital 2011Estonian Culture Ministry officials have designated Tallinn to become the European Capital of Culture in 2011. Tallinn came out on top of three other Estonian candidate cities: Tartu, Parnu and Rakvere. In five years Finland may appoint its cultural capital in, however the Fins still have to choose from the candidate towns. The European Capital of Culture is a city designated by the European Union for one year, during which it is given a chance to showcase its cultural life and development. Baltic’s grand port of Tallinn continues to dominate Apr 05, 2006 By Kairi Kurm, The Baltic Times TALLINN - The rise of intense Russian competition has forced Baltic ports to adjust their development strategies – often radically and on the fly – in order to retain their market share. With 12 percent of the cargo traffic in the Baltic Sea/Gulf of Finland region, Port of Tallinn is the third largest, but its managers know that they will need ingenuity and resourcefulness to maintain that position. Last year, the combined market volume of the Baltic Sea’s eastern coast was about 328 million tons, 39.5 million of which were handled through Port of Tallinn. Fast cargo growth continues in Russia’s ports, as political restrictions favor a transfer of goods through national ports and pipelines by setting higher railway tariffs on foreign exports. Heido Vitsur, the Estonian minister of economics and communications’ economic advisor, believes that tariffs will equalize once Russia joins the World Trade Organization. “When railway tariffs equalize, new opportunities will open up for Port of Tallinn,” said Vitsur. “Estonia should gain a competitive advantage on the market with a better service and expenditure level.” Along with growth of global oil production, the harbor expects an improvement in trade from Russia. Port of Tallinn showed a 6 percent increase in cargo volumes last year, despite intensifying competition from Russian ports (St. Petersburg and Primorsk). Liquid cargo made up 66 percent, dry bulk 20 percent and rolling stock 8 percent. But this structure is likely to change. “The company is planning to decrease the large dependence on liquid cargo and increase the share of container traffic,” said Vitsur. This is also Muuga Port’s main drive, Ratassep added. In terms of passengers, Tallinn is far and away the regional leader.  In
fact, Port of Tallinn is the third largest in north Europe after
Southampton and Copenhagen. “The Tallinn Port is ice-free all year
round and does not require regular deepening. Unlike in Latvia and
Lithuania, our ports – especially Muuga and Paldiski – have the
potential to expand and develop. We are planning to increase the area
of Muuga port by 50 percent in a five-year perspective,” said PR
manager Sven Ratassepp. What’s more, Port of Tallinn owns four smaller
ports: Vanasadam (Old City Port), the passenger terminal located in the
center of Tallinn, a commercial port in Paljassaare, Muuga Port and
Paldiski South Port. In 2006, another terminal is planned to be opened
in Saaremaa for cruise ships.The number of cruise passengers increased by 22 percent to 250,000 in 2005, and a 10 percent increase is expected this year due to the opening of a harbor on Saaremaa Island. In 2005, Port of Tallinn consolidated net turnover increased by 7 percent to 72 million euros, mainly thanks to an increase in port dues and rental income. The company’s operating margin dipped slightly below 50 percent, leaving its net profit around 26 million euros, most of which were paid as dividends to the government. |
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 The
Port Authority secured a profit in 2005 of euro 72 million.
Approximately 14 million more than the previous year. World Economy
boosted the Ports’ figures.In 2004 the figures were heavily influenced by a "bank guarantees affair" whereby 183,5 million euro guarantees were wrongfully issued. The tonnages increased from 348 to 366 million tons. The IMF latest study shows an overall increase of the Dutch economy of 2,5% this year and the overall world economy will increase with 4,9% Customs Corner  Customs administration is more than a simple T1 document. The world of customs and VAT is a world in itself. Lack of knowledge when dealing with this important aspect of our daily business can cause serious financial damage to the client... Did you know that you are liable for VAT when the administration is not in accordance with regulations set by the authorities? With commodities at present values, a 19% VAT liability and penalties are huge. At Vulcaanhaven we invest in proper computer systems to ensure a 100% control over all cargoes, in and out, crushed/screened, repacked, accompanied by all necessary and correct customs papers. Once a truck has reached the final destination, signed cmr waybills are received back into our office for further completion of our administration for Fiscal Representation. You see for yourself: when the truck has left our warehouse, our job is only finished when all documentation is handled correctly. Any questions? Feel free to connect with us. Thank you for choosing Vulcaanhaven! (more information: customs@vulcaanhaven.nl) |
Joke of the
Month: Who is afraid of... People were talking in the Church when suddenly Satan appeared at the front of the Church. Everyone started to scream and run for the exit, trying to get away as fast as possible. Soon everyone had exited the church except for one elderly man who sat calmly in the church without moving. Satan walked up to him and said: ‘do you know who I am’ the man replied: ‘yep, sure do’ ‘are you not afraid of me’ ‘nope, sure ain’t’ ‘don’t you realise I can kill you with one word’ ‘don’t doubt it for a minute’ the man said calmly. ‘did you know I could cause you profound horror and agony for all eternity?’ ‘yep’ was the calm reply. ‘and you still are not afraid?’ ‘nope’ the old man replied. More than a little disturbed Satan asked: “well, why aren’t you afraid of me?” The man calmly replied ”Been married to your sister for 48 years….! “ |
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Advertise in this newsletter and support the Johan Cruijff foundation, an initiative of the world famous Dutch soccer player to help children with disabilities around the world to participate in sports and bring them happiness. (more information: rudi@vulcaanhaven.nl) |
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New brochure
out! What is our message? Good service, excellent pricing, neutrality, we have what it takes, ‘hands on’ mentality, you name it. How do we get our message across? Visiting clients worldwide, meet them at conferences, calling them from our office, write a supportive newsletter. With our day to day service being the best marketing we can provide, our brochure is second best. With various photo compilations of our terminal, our people the equipment, we are proud to have finalised our latest brochure ‘a remarkable history’ With a map of Rotterdam, information about the Dutch “Golden Age” and useful addresses when in Holland. You are invited to order your free brochure and we would be more than happy to send a copy to you. Thank you for your interest. |
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 Vulcaanhaven
sponsor
of Sparta RotterdamThe first full season in the Dutch premier league did prove to be tough for Sparta Rotterdam. However despite a number of injuries, the team kept their own and by winning the last two games Sparta succeeded in avoiding playoffs. They ended 14th, and will play in the Premier League again next season. Sparta Rotterdam is well know for their great atmosphere all around. If you wish to join us for a home game, please let us know and we’d love to have you as our guest! Further info at www.sparta-rotterdam.nl |
Contact information | ||
| Vulcaanhaven
BV Schiedamsedijk 2a Portno. 610 3134 KK Vlaardingen The Netherlands Phone: +31 10 299 83 33 Fax: +31 10 299 83 30 E-mail: info@vulcaanhaven.nl |
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Vulcaanhaven EESTI OU P.O. Box 5054 Tallinn 11002 Estonia Phone: (372) 601 3415 Fax: (372) 601 3413 E-mail: info@vulcaanhaven.ee |
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circulate this newsletterOur policy is to send this information to interested individuals in the metals industry, if you no longer wish to receive this free newsletter reply to this email and you will be automatically removed.