The volume of bunker fuel sold by Novorossiysk Commercial Sea Port Group (NCSP Group) at the port of Novorossiysk in 2011 soared by 3.4 times year-over-year to $ 218 million, the Group official said on Monday.
Deputy CEO for Finance and Economy of PJSC NCSP Andrei Bubnov said that the Group’s bunkering operations margin in the reporting period increased by $ 12, 5 million to $ 17.6 million.
First Deputy CEO of PJSC NCSP Marat Shaydaev said that currently the Group operates at the port of Novorossiysk three bunkering tankers. The Company controls about 40% of the regional bunkering service market by selling about 25,000 tons of marine fuel. Overall, according to Shaydaev, about 60,000 tons are sold every month in Novorossiysk.
Mr. Shaydaev also said that the NCSP Group, in addition to operations at the ports of Novorossiysk and Primorsk, intends to develop bunker fuel supplies in the Ukraine, the Russian port of Tuapse and in river ports of the Russian Federation.
"If the port (Primorsk) railways are constructed the margin of this business will increase," he said.