Federal Antimonopoly Service of Russia (RF FAS) has sent a letter to the authorities of Novorossiysk Grain Terminal (NGT) of Novorossiysk Commercial Sea Port Group (NCSP) offering the Company to ensure competition in the market of cargo shipments, the NCSP press office said citing to the relevant decision of the anti-monopoly service.
The Federal Antimonopoly Service found NGT breached the Federal Law "On Protection of Competition", Part 1, Article 10 when the company had increased fees for handling service for export grain.
The NGT OJS Company’s main activity of is the provision of services for the storage and loading of exported grain, as well as related services such as cleaning and drying of grain. In August 2007, Novorossiysk Grain Terminal completed the construction of a new terminal for the storage and loading of grain. NGT does not have its own berths and uses deep-water berths of NCSP to accommodate Panamax vessels.
Novorossiysk Commercial Sea Port Group is the largest port operator in Russia. NCSP stocks are listed on the Russian Stock Exchanges RTS and MICEX (ticker NMTP), as well as on the London Stock Exchange in the form of global depositary receipts (ticker NCSP). The Group’s cargo turnover in 2009 amounted to 86.5 million tons. Consolidated revenues for the Group on the International Financial Reporting Standards for the 9 months of 2009 totaled $508.238 million. The NCSP Group integrate the stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet JSC, Novoroslesexport OJSC, IPP OJSC and Baltic Stevedoring Company, Ltd.
The Federal Antimonopoly Service found NGT breached the Federal Law "On Protection of Competition", Part 1, Article 10 when the company had increased fees for handling service for export grain.
The NGT OJS Company’s main activity of is the provision of services for the storage and loading of exported grain, as well as related services such as cleaning and drying of grain. In August 2007, Novorossiysk Grain Terminal completed the construction of a new terminal for the storage and loading of grain. NGT does not have its own berths and uses deep-water berths of NCSP to accommodate Panamax vessels.
Novorossiysk Commercial Sea Port Group is the largest port operator in Russia. NCSP stocks are listed on the Russian Stock Exchanges RTS and MICEX (ticker NMTP), as well as on the London Stock Exchange in the form of global depositary receipts (ticker NCSP). The Group’s cargo turnover in 2009 amounted to 86.5 million tons. Consolidated revenues for the Group on the International Financial Reporting Standards for the 9 months of 2009 totaled $508.238 million. The NCSP Group integrate the stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet JSC, Novoroslesexport OJSC, IPP OJSC and Baltic Stevedoring Company, Ltd.