Port Vanino half-year profit drops 25.9%
Net income of OJSC Vanino Commercial Sea Port (Port Vanino), according to Russian Accounting Standards (RAS) for the first half of 2012 shrank by 25.9% compared to the same period of 2011, to RUB 91,177,000, the company press release said. Revenue for the period was slightly up to RUB 762,972,000.
JSC Vanino Commercial Sea Port (Port Vanino) is the major operator of the port of Vanino (Khabarovsk Territory). The port is a gateway for trade flows between Russia and Japan, South Korea, China, Australia, USA and other countries of Asia Pacific Region. Vanino also handles imports shipped to the northern regions of Russia. Port Vanino owns the waterfront of about 2.5-km with three specialized cargo handling facilities. In 2011, cargo throughput at Port Vanino terminals fell 1.7% year-over-year to 5.9 million tons.