National Container Company received a verdict of the Odessa Regional Court of Appeal ruling to reinstate the Joint Operation Agreement between Ukrtranscontainer (UTC, part of NCC Group) and the Sea Commercial Port of Ilyichevsk (SCPI). The verdict resumes the Agreement in full force and effect since 18 October, 2010.
According to the ruling, UTC is entitled to start operations with the container terminal equipment. UTC has already notified the Port Authority about resuming the joint operation at the terminal. "Still we have every reason to believe that the Port Authority will prevent from execution of the legal decision," Vladimir Popov, Ukrtranscontainer CEO said.
NCC's estimates said contract renegotiations with container lines would take nearly a month, resignment of contracts with the terminal workers also would take about two months. NCC will make every effort so that the change of terminal operators will not affect the vessel handling.
"According to Ukrainian law, SCPI has 20 days to file cassation appeal but this does not cancel or suspend the verdict execution. It took more than a year to reinstate violated rights of the investor and today we are going to start operations at the container terminal as soon as possible" Mr. Popov said.
National Container Company (NCC) is the largest and leading container operator in Russia. The owners of the NCC in equal shares are the First Quantum Group and the FESCO Transport Group. In 2009, container volume passing through NCC’s terminals amounted to some 1.2 million TEUs, contributing 42.1% to total container turnover at Russian ports.
NCC’s portfolio of assets includes First Container Terminal (FCT, St. Petersburg), NUTEP Container Terminal (Novorossiysk), UKRTRANSCONTAINER Container Terminal (Ilyichevsk, Odessa region, Ukraine), Ust-Luga Container Terminal (Leningrad region) and Logistics Terminal (Shushary, St. Petersburg).
According to the ruling, UTC is entitled to start operations with the container terminal equipment. UTC has already notified the Port Authority about resuming the joint operation at the terminal. "Still we have every reason to believe that the Port Authority will prevent from execution of the legal decision," Vladimir Popov, Ukrtranscontainer CEO said.
NCC's estimates said contract renegotiations with container lines would take nearly a month, resignment of contracts with the terminal workers also would take about two months. NCC will make every effort so that the change of terminal operators will not affect the vessel handling.
"According to Ukrainian law, SCPI has 20 days to file cassation appeal but this does not cancel or suspend the verdict execution. It took more than a year to reinstate violated rights of the investor and today we are going to start operations at the container terminal as soon as possible" Mr. Popov said.
National Container Company (NCC) is the largest and leading container operator in Russia. The owners of the NCC in equal shares are the First Quantum Group and the FESCO Transport Group. In 2009, container volume passing through NCC’s terminals amounted to some 1.2 million TEUs, contributing 42.1% to total container turnover at Russian ports.
NCC’s portfolio of assets includes First Container Terminal (FCT, St. Petersburg), NUTEP Container Terminal (Novorossiysk), UKRTRANSCONTAINER Container Terminal (Ilyichevsk, Odessa region, Ukraine), Ust-Luga Container Terminal (Leningrad region) and Logistics Terminal (Shushary, St. Petersburg).