JSC Vostochny Port, a major stevedore operating at the Russian Far Eastern Port Vostochny, has announced its performance for the nine-month period ended September 30, 2012. The company’s net income according to Russian Accounting Standards (RAS) increased by 16.7% compared to January-September 2011, to RUB 500.9 million. Revenue for the same period increased by 19.1% to RUB 2.1 billion.
JSC Vostochny Port is the largest stevedore company in the Russian Far East operating in Vostocny port. The company specializes in handling of coal using the conveyor equipment. The company’s assets include a Specialized Coal Terminal and Universal Terminal (PPK-1) for handling general and bulk cargoes (coal, coke, clinker, iron ore, timber, etc.) as well as metals, pulp, aluminum, chemical, heavy-lift and oversized cargo. In 2011, the stevedore handled 16,498,200 tons, a 12 percent gain year-on-year.
Russian Govt. through the Federal Agency for State Property Management owns 19,99% of voting stocks in the Company, Eastern Stevedoring Holdings Ltd. holds a 74.57 stake in VP OJSC.