JSC Sea Port Saint-Petersburg is set to participate in a tender offer process on the purchase of a state-owned 55-percent stake in JSC Vanino Commercial Sea Port (Port Vanino), which will be held on December 7, 2012. This decision was made by the company's shareholders at an Extraordinary General Meeting of 23 November 2012, the St. Petersburg port stevedore said in a statement.
Shareholders of “SP St. Petersburg" have also approved a contract for the provision by an irrevocable bank guarantee in favor of the Russian Federation in the amount of RUB 3 billion, to meet the tender pre-qualification requirements.
About Sea Port St. Petersburg
JSC Sea Port St. Petersburg (part of UCL Port, a sub-holding, managing stevedoring assets of UCL Holding) is the largest operator, providing ranged services for handling all types of dry bulk cargo in Big Port St. Petersburg. The company operates modern specialized terminals for handling Ro-Ro cargo, imported vehicles and metals. In 2011, Sea Port St. Petersburg cargo volumes totaled 7.4 million tons.
About Port Vanino
JSC Vanino Commercial Sea Port (Port Vanino) is the major stevedore company of the Port of Vanino based in Khabarovsk Territory. The company is a successor of the Vanino port founded in 1943. The Port Vanino owns the 2.5-km-long waterfront featuring multipurpose and specialized terminals, 16 berths, outdoor / indoor warehouses and handling equipment. The berths depth enables the port to accommodate 45,000dwt vessels. The company also operates a fleet of workboats, tugs, carrying out mooring operations, transporting passengers and supplying merchant ships with water. In 2011, cargo throughput at Port Vanino terminals fell 1.7% to 5.9 million tons. In 2011, Port Vanino reported net income of RUB 339.4 million, a 3.9-times growth year-over-year.