NCSP’s Board of Directors approves a number of related-party transactions
Novorossiysk Commercial Sea Port Group reports that a number of related-party transactions were approved by PJSC NCSP’s Board of Directors on 15 January 2015.
Transactions between PJSC NCSP and NFT Ltd: Addendum to agreement on oil products loading onto tankers for coastal shipping; Ship loading services agreement.
Transactions between PJSC NCSP and PJSC Fleet of NCSP: Environmental services agreement; Harbor patrolling and waste collection services agreement; Termination of a bareboat charter agreement; Towing services and passenger boats services agreement.
Transactions between PJSC NCSP and PJSC Chernomortransneft
- Addendum to a lease agreement.
Transactions between PJSC NCSP and FESCO Integrated Transport Ltd.
Agreements on cargo transshipment and expediting services for: Mineral fertilizers in bulk; Non-ferrous metals; Manganese ore in bulk; Machinery, equipment, and parts; Pipes in bundles; Ferrous metals.
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2013 totalled 141 million tonnes. Consolidated revenue to IFRS in 2013 totalled USD 928 million and EBITDA was USD 510 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, OJSC NLE, OJSC IPP, CJSC Baltic Stevedore Company, and CJSC SFP.