14th Dec 2010 07:00
14.12.2010
The Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS and MICEX: NMTP) hereby reports its consolidated operating results for January-November 2010. In the reporting period NCSP Group's cargo turnover amounted to 74 562.7 thousand tons, which is by 5.4% (4 240.2 thousand tons) less than in the same period of 2009.
Dropdown in cargo traffic in the reporting period was conditioned by the imposition of the grain export ban in August 2010, resulting into reduction of grain volumes by 2 455.2 thousand tons versus same period last year, and by the volatility of crude oil export volumes which decreased by 2 175.4 thousand tons.
Excluding the above mentioned cargoes NCSP Group cargo turnover for 11 months of 2010 totaled 30 391.8 thousand tons, exceeding the volume of the same period of 2009 by 390.4 thousand tons.
Container cargo, perishable cargo, non-ferrous metals, bulk mineral fertilizers, timber cargo, and raw sugar retained positive volume growth rates throughout the reporting period.
The highest growth was achieved in container segment - 418.6 thousand TEU for 11 month of 2010 versus 210.7 thousand TEU for the same period of 2009. While Group's total container traffic doubled, Baltic Stevedoring Company (BSC) became the fastest growing container terminal in the Group. This year a third mobile crane was put into operation, and 10 container trucks with trailers were procured under the ongoing project to expand BSC capacity to 400 thousand TEU. On top of that 4 RTG cranes are expected to arrive at BSC in December. In November this year BSC was registered as the resident of Kaliningrad Region Special Economic Zone. In the 11 months of 2010 BSC container traffic grew by 257.8% compared to the same period last year.
In the reporting period volumes of perishable cargo grew by 55.8%; non-ferrous metals volumes increased by 26.6% or by 213.5 thousand tons; transshipment of bulk mineral fertilizers rose by 25.5% or by 372.5 thousand tons; raw sugar volumes grew by 19.4% or by 234.9 thousand tons; and timber cargo handling totaled 1 819.2 thousand cubic meters - 21.5% more than in the same period last year.
NCSP Group Operating Results for January-November 2010
January-November 2010 | January-November 2009 | Change | ||
thousand tons | thousand tons | thousand tons | % | |
Cargo turnover, total | 74 562.7 | 78 802.9 | -4 240.2 | -5.4% |
Liquid cargo, total | 50 528.2 | 53 343.5 | -2 815.4 | -5.3% |
Crude oil | 38 411.5 | 40 586.8 | -2 175.4 | -5.4% |
Petroleum products | 11 516.8 | 11 993.2 | -476.4 | -4.0% |
UAN | 483.0 | 503.0 | -20.0 | -4.0% |
Seed oils | 116.9 | 260.5 | -143.6 | -55.1% |
Bulk Cargo, total | 11 020.5 | 13 413.3 | -2 392.8 | -17.8% |
Grain | 5 759.5 | 8 214.6 | -2 455.2 | -29.9% |
Mineral fertilizers | 1 834.1 | 1 461.6 | 372.5 | 25.5% |
Sugar | 1 444.9 | 1 210.0 | 234.9 | 19.4% |
Iron ore and ore concentrate | 1 982.1 | 2 454.6 | -472.5 | -19.3% |
Cement | 0.0 | 72.5 | -72.5 | -100.0% |
General cargo, total | 9 624.6 | 10 051.2 | -426.6 | -4.2% |
Ferrous metals | 7 155.4 | 8 134.1 | -978.7 | -12.0% |
Timber | 1 019.8 | 846.8 | 173.1 | - |
Timber, thousand cubic meters | 1 819.2 | 1 497.6 | 321.6 | 21.5% |
Non-ferrous metals | 1 016.7 | 803.2 | 213.5 | 26.6% |
Perishable cargo | 178.2 | 114.4 | 63.8 | 55.8% |
Other | 254.4 | 152.8 | 101.6 | 66.5% |
Containers | 3 389.5 | 1 994.8 | 1 394.6 | - |
Containers (thousand TEU) | 418.6 | 210.7 | 207.9 | 98.7% |
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group's consolidated cargo turnover in 2009 totaled 86.5 million tons. Consolidated revenue to IFRS in 2009 totaled $675.1 million and net profit $252.2 million.
NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares).
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel.: +7 (495) 783-5434; IR@nmtp.info
Related Shares:
Pjsc Novor. S