FSUE Rosmorport’s revenue in HI’2020 grew by 6% YoY

The number of calls fell by 2%

FSUE Rosmorport says its revenue in the first half of 2020 totaled RUB 14.7 billion, which is 6% more, year-on-year.

The company's income from its core activities (port dues) totaled 10.4 billion, almost RUB 450 million less than in the same period of the previous year.

According to the statement the total result was balanced by income from other and accompanying types of activity including commercial services of the fleet – RUB 2.7 billion. Over the period, the company transferred over RUB 430 million to the budget.

In the reporting period, the number of calls fell by 2%, year-on-year, to slightly over 58,000 including some 33,000 calls by foreign going vessels (-3%) and 25,000 calls coastwise ships (-1%). The decrease should be attributed to the impact of the pandemic and the related regulatory constraints. The most drastic fall has been registered in the seaports of the country’s European part due to absence of cruises (Saint-Petersburg) and seaports focused on handling of coal (Murmansk) and  handling of crude and oil products (Primorsk, Vysotsk, Ust-Luga). The number of calls for bunkering purposes decreased in Nakhodka, Vostochny and Kaliningrad.

Over the 6-month period, the scope of dredging performed by FSUE Rosmorport totaled about 3.5 million cubic meters, 42% of the planned 8.3 million cubic meters. The bulk of the dredging works is underway on the Volga-Caspian Canal. Last year, Rosmorport dredged 3.6 million cubic meters on the canal with the plan to dredge 3.9 million cubic meters this year.

To mitigate the impact of dredging works on aquatic biological resources the company released over 510,000 young fish worth over RUB 79 million. A total of RUB 100 million has been spent for environmental activities and monitoring.

Despite the changing economic situation the company retains its investment development rates and continues implementing its programme of fleet expansion. In the first half of the year, the company took over five new tugboats of Arc4 class equipped with the pod drives ensuring high maneuverability. Besides, Onezhsky Shipyard is building one tugboat of Arc5 class with two hybrid workboats launched and delivered to Big Port St. Petersburg for further transportation to Vanino port. It should be noted the the programme is being implemented without involvement of any support measures although the company has been acknowledged as the backbone enterprises by the Ministry of Transport of the Russian Federation.

In the reported period, the company completed reconstruction of navigation safety facilities in Feodosia, built a coast radio station NAVTEX in the port of Taganrog, put into operation a VTMS building in Makhachkala, completed reconstruction of hydraulic engineering structures in Vostochny port.

The coronavirus pandemic affected the delivery schedules. Nevertheless, works are underway on construction of a passenger ferry berth on the left shore of the Anadyr liman and reconstruction of berths in the port of Pevek. The company also resumed construction of the international freight/passenger terminal in Pionersky (Kaliningrad Region) and construction of federally owned facilities in the Muchke Bay of the Khabarovsk Territory.

In June, the company’s credit rating has been confirmed at the general Russian level of ruААА.