24th Mar 2011 13:00
Press-release
NCSP Group Operating Results for January-February 2011
24.03.2011
Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS & MICEX: NMTP) hereby reports consolidated operating results for January-February 2011. In the first two months of 2011 NCSP Group cargo turnover amounted to 23 412.2 thousand tons.
To ensure comparability of the data 2010 cargo statistics must be adjusted for the volumes loaded by Primorsk Trade Port Ltd., which was acquired by NCSP Group in January 2011. Taking this into account NCSP Group cargo turnover in January-February 2011 decreased by 1 652.9 thousand tons versus January-February 2010. Key negative factor at play was the grain export ban enforced in August 2010, which alone resulted in a loss of 1 426.7 thousand tons of cargo.
In the reporting period a few cargoes showed organic growth versus same period last year. Container handling increased by 364.5 thousand tons; iron ore and ore concentrate volumes grew by 563.7 thousand tons; oil products were up by 473.5 thousand tons; and volumes of non-ferrous metals, bulk fertilizers, and other cargo increased by 49.6 thousand tons together.
Group's container traffic in TEU terms in January-February 2011 was twice as much as that of January-February 2010 and totaled 92.6 thousand TEU. Container handling at the NLE, BSC, and NCSP terminals grew by 161.7%, 133.6%, and 11.1% respectively.
Bulk cargo volumes in the reporting period reduced by 907.3 thousand tons versus that of the same period in 2010, due to the grain export embargo being in effect, compensated by growing handling of iron ore and ore concentrate.
General cargo traffic in January-February 2011 reduced by 603.9 thousand tons versus same period last year and comprised 1 295.2 thousand tons. Continued political unrest in North Africa and the Middle East, who are large importers of Russian ferrous metals and timber, caused these cargoes to decrease by 90.0 thousand tons and 531.6 thousand tons respectively. Extended periods of stormy weather at Novorossiysk also contributed to cargo traffic reduction.
Liquid cargo volumes in the reporting period totaled 20 177 thousand tons. Loading of oil products increased by 19.0% or by 473.5 thousand tons versus January-February 2010. Crude oil volumes in January-February comprised 17 138.1 thousand tons, which is by 914.6 thousand tons less than the volumes of the same period last year (taking into account PTP's 2010 volumes).
NCSP Group Cargo Turnover for January-February 2011 (thousand tons)*
Jan-Feb 2011 | Jan-Feb 2010 |
Change | ||
Cargo turnover, total* | 23 412.2 | 25 065.1 | -1 652.9 | -6.6% |
Liquid cargo, total* | 20 177.0 | 20 683.2 | -506.2 | -2.4% |
Crude oil* | 17 138.1 | 18 052.7 | -914.6 | -5.1% |
Petroleum products | 2 963.6 | 2 490.1 | 473.5 | 19.0% |
UAN | 75.4 | 105.4 | -30.0 | -28.5% |
Seed oils | 0.0 | 35.0 | -35.0 | -100.0% |
Bulk Cargo, total | 1 177.1 | 2 084.4 | -907.3 | -43.5% |
Grain | 32.9 | 1 459.5 | -1 426.7 | -97.7% |
Mineral fertilizers | 346.0 | 337.4 | 8.6 | 2.6% |
Sugar | 131.5 | 184.5 | -53.0 | -28.7% |
Iron ore and ore concentrate | 666.7 | 103.0 | 563.7 | 547.3% |
Cement | 0.0 | 0.0 | 0.0 | 0.0% |
General cargo, total | 1 295.2 | 1 899.1 | -603.9 | -31.8% |
Ferrous metals | 978.9 | 1 510.5 | -531.6 | -35.2% |
Timber | 83.1 | 173.0 | -90.0 | -52.0% |
Timber, thousand cubic meters | 151.0 | 306.0 | -155.0 | -50.7% |
Non-ferrous metals | 175.8 | 155.7 | 20.1 | 12.9% |
Perishable cargo | 21.2 | 44.5 | -23.3 | -52.3% |
Other | 36.3 | 15.4 | 20.9 | 135.3% |
Containers | 762.9 | 398.4 | 364.5 | 91.5% |
Containers (thousand TEU) | 92.6 | 46.3 | 46.3 | 100% |
* Taking into account PTP's 2010 volumes
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d operator in Europe in terms of cargo turnover. 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 consolidated cargo turnover in 2009 totaled 86.5 million tons (excluding Primorsk Trade Port), andc onsolidated revenue to IFRS for 9 months of 2010 totaled $499.4 million and net profit $233.0 million. NCSP Group includes the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
+7 (926) 203 4934; [email protected]
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