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  • Throughput of NCSP Group in 2016 up 5.2%, Y-o-Y, to 146.91 mln t
  • 2017 January 25 12:47

    Throughput of NCSP Group in 2016 up 5.2%, Y-o-Y, to 146.91 mln t

    NCSP Group reports that its consolidated cargo turnover for full year 2016 increased by 5.2% (by 7 223 thousand tons) compared to that of 2015 and reached 146 912 thousand tons.

    CEO of PJSC NCSP Sultan Batov commented on 2016 operating results:

    «Throughout 2016 NCSP Group has demonstrated sustainable growth of volumes, and in some key cargoes we beat the industry’s average growth rates.

    We managed to maintain transshipment of oil products at last year’s levels, while total volumes of oil products at Russian seaports in 2016 decreased 3.7% versus 2015, according to ASOP.

    On the back of favorable commodity markets volumes of iron ore grew 50.1% y-o-y, and coal by 12.3% y-o-y, while total transshipment of iron ore at Russian seaports increased only 29.6% y-o-y, and that of coal by 10.5% y-o-y, according to ASOP.

    Transshipment of ferrous metals and pig iron increased 9.2% y-o-y and outperformed the industry’s average growth of 7.8% y-o-y.

    All-in-all, NCSP Group outperformed its original estimates of 2016 volumes by 12.2%».

    Transshipment of liquid cargo in 2016 increased 5.2% y-o-y (by 5 666 thousand tons) and totaled 113 694 thousand tons, including:

    -        81 117 thousand tons of crude oil, up 7.9% y-o-y (by 5 910 thousand tons);

    -        31 689 thousand tons of oil products, in line with 2015;

    -        716 thousand tons of UAN and 172 thousand tons pf seed oils.

    Throughout 2016 crude oil volumes has been outgrowing these of oil products due to the export duty adjustment that made crude export preferable for producers.

    Transshipment of bulk cargo in 2016 increased 4.7% y-o-y (by 575 thousand tons) and reached 12 909 thousand tons, including:

    -        6 687 thousand tons of grain, in line with 2015;

    -        838 thousand tons of chemical cargoes and 650 thousand tons of raw sugar;

    -        2 987 thousand tons of iron ore, up 50.1% y-o-y (by 997 thousand tons);

    -        1 747 thousand tons of coal, up 12.3% y-o-y (by 192 thousand tons).

    Growth in grain volumes was prevented by external factors like increased global supply and lower prices, strengthening of the Russian ruble from Q2 2016 onwards, grain export duty, and interruption of sales to Egypt due to zero-ergot requirement, the latter two cancelled only in the end of September 2016.

    Transshipment of raw sugar reduced due to lower demand for expensive imported cane sugar and growing domestic production of high-quality sugar beet.

    Transshipments of general cargo in 2016 increased 5.7% y-o-y (by 784 thousand tons) and reached 14 514 thousand tons, including:

    -        12 757 thousand tons of ferrous metals an pig iron, up 9.2% y-o-y (by 1 078 thousand tons);

    -        1 104 thousand tons of non-ferrous metals;

    -        580 thousand tons of timber and 73 thousand tons of perishable cargo.

    Transshipment of containers in 2016 totaled 5 332 thousand tons or 484 thousand TEU, growing 2.7% and 1.6% y-o-y respectively.

    Transshipment of other cargo (bulk and general) in 2016 totaled 463 thousand tons.

    NCSP Group is the largest port operator in Russia and the third largest in Europe by cargo turnover in 2015. NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2015 totaled 139.7 million tons. Consolidated revenue to IFRS in 2015 totaled $877 million and EBITDA $657 million. NCSP Group consists of: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.




2022 January 26

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