NCSP Group reports that on 21 July 2017 the Arbitration Court of Moscow ruled in favor of PJSC Novorossiysk Commercial Sea Port in the case to appeal and indictment of the Federal Anti-Monopoly Service of Russia (FAS).
The court has ruled to satisfy the claim of NCSP and hold invalid an indictment by FAS dated 30.03.2017 on the case №1-10-86/00-03-16, which accused NCSP of breaching the Federal law On Protection of Competition and upholding monopolistically high tariffs for transshipment, and demanded to cancel these tariffs and remit extra monopolistic revenue to the state.
Earlier on 08.06.2017 the court satisfied similar appeal by PTP and declare invalid an indictment by FAS dated 21.11.2016 on the case №1-10-84/00-016, which accused PTP of breaching the Federal law On Protection of Competition.
NCSP Group is the largest port operator in Russia and the third largest in Europe by cargo turnover in 2016. NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2016 totaled 147 million tons. Consolidated revenue to IFRS in 2016 totaled $865.5 million and EBITDA $675.5 million. NCSP Group consists of: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, JSC SFP.