Three Cyprian companies hold 71.04% of Vanino Port stock
Three Cyprian companies consolidate 71.04% of Port Vanino (Vanino Commercial Seaport OJSC). According to the port’s statement, the shares were acquired by Cuprus-registered companies: Opern Trade, Ltd., Sedmino Investments, Ltd., and Travine Trading, Ltd. Each of them now holds 23.68% of voting shares.
We remind that Mechel, which had acquired a controlling stake in Vanino Commercial Seaport, has recently announced the sale of the stevedore’s shares to a group of investors having not revealed their names. Mechel now retains about 1.5% of the enterprise's common shares. Mechel stated that the investors are not interested in transhipping their products through Port Vanino, which will enable it to use the port’s entire capacity in the company’s interests.
Port Vanino was already utilized by Mechel to ship its cargo. The first vessel carrying 30,000 tons of Yakutugol Holding Company OAO's coal products has left the port. Today another vessel, which will carry 40,000 tonnes of Yakutian coals, is being loaded at the port.
Access to Port Vanino’s transhipment capacities significantly enhances Mechel’s export potential in Asia and the Pacific and ensures guaranteed sales volumes for the Group’s coal products from Southern Kuzbass Coal Company OAO and Yakutugol Holding Company OAO, taking into account the Elga deposit development.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power.
Vanino Commercial Seaport OJSC is the largest stevedoring company of Khabarovsk region. It provides handling and forwarding services. Cargo is delivered via Vanino to the north-eastern regions of Russia, Japan, South Korea, China, Australia, USA and other countries of APR. The length of the port’s berthing line is about 2.5 kilometers. The berths occupied by three industrial complexes are equipped in compliance with their specialization.