RF Government approves candidates for Boards of Directors of NCSP and MSC

On January 29, 2015, RF Prime Minister Dmitry Medvedev signed a Decree No 114-r to approve the list of candidates for RF representatives and eligible directors in the Boards of Directors and Audit Commissions of Novorossiysk Commercial Sea Port OJSC and Murmansk Shipping Company OJSC, says press center of RF Government.

Murmansk Shipping Company OJSC specializes in marine transportation of general cargo and passengers by the fleets of the Company itself and its subsidiaries as well as by chartered vessels. The fleet of the shipping holding numbers over 300 vessels with total deadweight of some 2 mln t. MSC is the largest shipping company which carries out the major part of shipments under the Russian flag in Russian sector of the Arctic. Major shareholders of MSC are Arctic technologies LLC (62.7%) and the state (25.5%).

NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2013 totalled 141 million tonnes. Consolidated revenue to IFRS in 2013 totalled USD 928 million and EBITDA was USD 510 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, OJSC NLE, OJSC IPP, CJSC Baltic Stevedore Company, and CJSC SFP.