A  decision  has  been  taken  by  JSC  "Latvijas  kuģniecība" (Latvian

Shipping  Company)  to  terminate the operation of VentLines ferry line

Ventspils - Traveminde ( Germany) starting from 15 July 2004.

Since  launching  the  line, the transportation of goods and passengers

between  Ventspils  and  Taveminde  has  been  carried  out  by  Kaptan

Burhanettin  Isim ferry. The term of the Time Charter Agreement for the

vessel expires today - 15 July 2004.

The   chartering  or  acquisiton  of  another  ferry  vessel  has  been

considered by JSC "Latvijas kuģniecība" . However, none of the numerous

ferries  offered  meets  the  requirements to ensure further successful

operation  of  the  line.  Although the line has been closed due to the

circumstances   above,   JSC   "Latvijas   kuģniecība"   will  continue

investigating  the  ferry  market to find the required vessel to resume

the operation of Ventspils - Traveminde ferry line.

Marita Ozolina-Tumanovska

Head of PR Departament

Phone: +371 7020120

Fax: +371 7820239

E-mail : ozolina@lsc.riga