UCL Holding completing the formation of the Group divisions is combining its stevedoring assets under a single brand name UCL Port, the Holding press service said.
The newly created sub-holding company UCL Port BV has taken over shares of JSC Sea Port St. Petersburg, CJSC Container Terminal Saint Petersburg, JSC Taganrog Commercial Seaport and SP Container Terminal Ltd, the sole owner of CT St. Pb. By the end of 2011 two more companies, Tuapse Commercial Seaport and Ust-Luga Universal Transshipment Complex, will be merged into UCL Port.
The restructuring of assets under a single brand is being carried out in accordance with implementation of the development strategy of the holding’s stevedoring division, which is aimed at strengthening of the group’s seaports competitiveness, switching to more cost-effective and environmentally friendly goods.
UCL Port will be engaged in modernization of existing and construction of new terminals for handling general, bulk and container cargoes. It is expected that by 2016 the new company’s throughput will more than double compared with the current performance of the division, the Holding said.
Dutch-registered Universal Cargo Logistics Holding (UCL Holding) is an international transport group comprising a number of shipping, shipbuilding, railway, logistics and stevedoring companies based in Russia. The Group owns terminals at Sea Port Saint-Petersburg and Universal Handling Complex in the North-West Russia; southern ports of Tuapse and Taganrog. UCLH is a majority owner of Volga-Balt Transport Holding (VBTH).
