2nd Sep 2008 08:05
NCSP Invests in Capacity Expansion at Baltic Port
September 2, 2008
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) purchased two new Liebherr LHM400 harbor cranes for Baltic Stevedore Company (BSC), an NCSP subsidiary operating a container terminal at the Port of Baltiysk in Kaliningrad region. New cranes were supplied under a large-scale investment program aimed at tripling terminal's capacity from 80,000 TEU to 300,000 TEU per annum.
Two Liebherr LHM400 harbor cranes worth more than 5 million euros have already been delivered to the port, which made BSC the best-equipped container terminal in Kaliningrad region.
NCSP consolidated 100% of BSC in February 2008. Since then a major investment plan worth US$ 69.2 million and a technical upgrade and capacity expansion program was developed and put into effect. New cranes are a part of this expansion project designed to bring port's capacity to 300,000 TEU per annum.
Liebherr LHM400 is a universal mobile wheeled harbor crane. The crane has lifting capacity of 104 tonnes and a boom of 48 meters, enabling it to handle Panamax class container vessels. Both cranes are equipped with an automatic spreader for 20 and 40-foot containers. The cranes enable high loading and unloading speeds of 20-25 operations per hour. The container spreader can be replaced with other mechanisms if necessary to process all kinds of cargo.
About NCSP
According to the Association of Sea Ports, NCSP (Novorossiysk Commercial Sea Port) is the largest Russian port operator in terms of cargo turnover. NCSP cargo turnover based on consolidated reports for 2007 totaled 79.4 million tonnes. NCSP is traded on the London Stock Exchange and Russia's RTS and MICEX. NCSP earnings to IFRS for 2007 totaled $483.4 million, EBITDA totaled $227.9 million, and net profit totaled $93.7 million (according to consolidated financial reports).
NCSP is the largest stevedoring company operating at Novorossiysk, a deepwater ice-free multi-product port on the Black Sea that is essentially Russia's southern sea gates for the export and import of a broad spectrum of cargo (including oil, petroleum products, timber, grain, fertilizers, ferrous metals, containers, automobiles, and other products). NCSP handled about 96% of the cargo at Novorossiisk port in 2007.
NCSP includes the following stevedoring companies: OAO Novorossiisk Grain Terminal, OAO Novorossiisk Shipyard, OAO NCSP Fleet, OAO Novoroslesexport, OAO IPP, and OOO Baltic Stevedoring Company.
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