OTEKO-Portservis rated at A- with stable outlook by National Credit Ratings
In 2022, the liquidity is expected to exceed the short-term debt
National Credit Ratings (NCR) has analyzed the market position, financial viability and corporate management of OTEKO-Portservis (operator of Taman Dry Bulk Terminal, TDBT) and rated it as A-.ru with a stable outlook, OTEKO says in its press release.
NCR has noted strong market position of the company operating Russia’s only dedicated coal terminal in the South region.
TDBT is world class railway-port-terminal facility located close to major coal production regions. With its modern technological equipment, the terminal’s infrastructure allows for a simultaneous handling of 2 to 5 vessels and for shipment of large cargo batches. The terminal’s extensive storage facilities ensure flexible handling operations even in winter season.
Further development of OTEKO-Portservis LLC will be ensured by increased handling of coal, sulphur and mineral fertilizers.
According to NCR analysts, “strong current and expected situation in the energy market as well as vast geography of the end users and high operational marginality let OTEKO-Portservis stand price fluctuations”.
Strong monetary flow and convenient loan repayment schedule ensures high credit quality of the company; in 2021, the company’s amount of money exceeded its current liabilities.
NCR expects the liquidity to exceed short-term debt in 2022.
The rating agency also says that the company features all the required corporate management bodies and risk management framework.
OTEKO-Portservis LLC operates Taman Dry Bulk Terminal, the largest and the first dedicated dry bulk terminal in the South of Russia. When fully operational, the terminal will have a capacity of 72 million tonnes per year. Its berths will be able to accommodate ships of up to 220,000 dwt, the largest ships able to pass the Bosphorus Strait.
OTEKO Group is the major private investor in port infrastructure in southern Russia. It created a world-class export hub on the Black Sea shore. OTEKO ensures an access of Russian exporters to the markets of South Europe, Middle East and Asia.
OTEKO cluster includes two sea terminals: Taman Liquid Bulk Terminal (a facility for export of liquefied petroleum gas, oil and oil products with a capacity of 20 million tonnes a year) and the Taman Dry Bulk Terminal with a capacity of 72 million tonnes per year.
OTEKO is among the key taxpayers in the Krasnodar Territory. The company numbers about 10,000 employees with the locals accounting for over 80%.
Since 2000 OTEKO Group has been implementing a comprehensive investment program for the construction of terminal facilities in the port of Taman.