Throughput of NCSP Group down 10.8% to 24 mln t in Jan-Feb '13
Novorossiysk Commercial Sea Port Group (“NCSP Group” or the “Group”) (LSE: NCSP, Moscow Exchange: NMTP) announces today that its consolidated cargo turnover for the period of January-February 2013 amounted to 24 million tonnes, compared to 27 mln tonnes in the same period of last year.
Commenting on the Group’s results for January-February 2013, Group CEO Rado Antolovic said: “The decrease in turnover volumes was mostly conditioned by two factors, both of which are beyond the control of the Group. These factors are the changes to the oil pumping schedule throughout Russia’s trunk pipeline system and a redistribution of crude volumes between various export routes, as well as actual cessation of grain exports due to the poor grain crop of 2012.”
Handling of liquid cargo in the reporting period decreased by 2,260.4 ths tonnes (or 10%) year-on-year to 20.3 million tonnes. Crude oil handling totalled 15.8 million tonnes, compared to 19.1 mln tonnes in the same period of last year.
At the same time, oil products turnover demonstrated solid growth, increasing by 1,059 ths tonnes (or 31.5%) compared to January-February 2012 and amounting to 4.4 mln tonnes. For the same period growth in oil products transhipments at all Russian sea ports combined amounted to 1.6% compared to 2012 levels, according to ASOP*.
In the first two months of 2013, NCSP Group handled 924.9 ths tonnes of bulk cargo. The decrease of 950.3 ths tonnes relative to January-February 2012 was largely due to a decline in grain volumes caused by a poor harvest.
Handling of mineral fertilizers in January-February 2013 amounted to 176.6 ths tonnes compared to 222.2 ths tonnes in the same period of the previous year. At the same time, 35.2% more fertilizer was loaded in February 2013 than in January 2013 and a 17.4% increase in volumes was recorded compared to February 2012.
Handling of iron ore and ore concentrate increased by 15.7% year-on-year, amounting to 364.7 ths tonnes. Cargos such as sugar and cement likewise demonstrated robust growth.
General cargo continued growth in all categories in the first two months of 2013, with throughput increasing by 258.4 ths tonnes (15%) and amounting to 1,984.9 mln tonnes. Volumes of ferrous metals increased by 176.7 ths tonnes (12.2%) year-on-year against the 7.1%* year-on-year decrease of ferrous metals handling at all Russian seaports combined in the reporting period. Timber volumes grew by 24.7% year-on-year, despite overall timber volumes at Russian sea ports decreasing by 18.1%* in the first two months of 2013. Handling of non-ferrous metals and timber grew by 29 ths tonnes and 17.5 ths tonnes, respectively.
NCSP Group total container throughput in January and February 2013 increased by 11.4 thousand TEU (12.8%) year-on-year. The highest growth was achieved at OJSC Novolesexport in Novorossiysk, where volumes increased 33.7%. The Groups container turnover in tonnage grew by 4.1%, much better than industry’s average growth of 2.9%* year-on-year.
Novorossiysk Commercial Sea Port (NMTP Group) is Russia’s largest port operator in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). 50.1% shares of PJSC “NCSP” belong to Novoport Holding Ltd, the beneficial owners of which are OJSC “Transneft” and Summa Group. The Group comprises the following stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Primorsk Commercial Port, Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC, Novolesexport OJSC, IPP OJSC, Baltic Stevedore Company LLC and SFP CJSC. In 2012, the Group’s throughput gained 1.2% to 158.9 mln tons.