PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) in the framework of its Sheskharis Oil Terminal Reconstruction Project in June 2009 is launching new automated system for oil loading control and metering. This system uses latest technology for oil and oil products’ loading control and provides higher level of environmental and fire safety.
Observance of environmental and industrial safety standards is monitored by the Federal Environmental, Industrial, and Nuclear Inspection, which in June 2009 inspected PJSC NCSP’s oil loading facilities.
Commenting on the inspection findings Igor Vilinov, CEO of PJSC NCSP, said: «Industrial safety inspection report confirms that PJSC NSCP operations meet the requirements of the federal law «On Industrial Safety at Hazardous Working Sites». At the same time the report includes a few observations and directives, some of which have already been fulfilled or eliminated. We expect to fulfill the remaining directives in the nearest future, the plan of corrective action has already been submitted to the Nizhe-Donskoye Department of the Federal Environmental, Industrial, and Nuclear Inspection».
PJSC NCSP pays special attention to industrial safety issues while implementing its long-term investment program, especially in the Sheskharis Oil Terminal Reconstruction Project, which is to be completed in 2012. The project includes large-scale reconstruction and upgrade of the facilities and equipment in order to increase environmental, industrial, and fire safety level at the port.
NCSP Group is the largest stevedoring company in Russia in terms of cargo turnover. Group’s core assets are located at the Port of Novorossiysk.
NCSP shares are traded on Russia’s RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares).
NCSP Group’s consolidated cargo turnover in 2008 totaled 81.6 million tonnes. Consolidated revenue to IFRS in 2008 totaled $653.777 million, adjusted EBITDA and adjusted net profit for 2008 comprised $376 million and $210.6 million respectively.
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.