Throughput of Vostochny Port down 12% to 6.968 mln t in H1 09

In the first half of 2009, Vostochny Port OJSC (Primorski Territory) handled 6,968,200 tonnes of cargo (-12%, year-on-year) including 1,237,300 tonnes (-19%) handled in June, the stevedore’s press center states.

In the 6-month period Specialized Coal Complex handled 5.881 million tonnes of coal (-15%, year-on-year) including 951,480 tonnes handled in June (-27%).

Universal Handling Terminal handled 1.087 million tonnes of different cargoes (+9%, year-on-year) including 285,850 tonnes handled in June (+26%).

“The decrease of cargo turnover in the first half of the year was predictable,” the company’s Director General Sergei Kushnarev said. “Modernization of wagon tipper is underway and the complex does not operate in its full capacity. The decrease of coal terminal throughput certainly had its impact on the company’s general results. However, Universal Handling Terminal continues to increase the throughput and we plan to maintain those growth rates in the second half of the year.”

Vostochny Port Joint Stock Company - is the largest stevedore company in the Far East of Russia. Its main specialization is coal handling using conveyer equipment. 74.57% of the company’s authorized capital (75.07% of ordinary shares) belongs to offshore company Eastern Stevedoring Holdings Limited. The state holds 19.99% (23.47%).