Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS & MICEX: NMTP) hereby reports consolidated operating results for January 2011. In the reporting period NCSP Group cargo turnover amounted to 12 864.8 thousand tons. Recent acquisition of Primorsk Trade Port Ltd. (PTP) resulted in 78.9% increase of the Group’s cargo traffic, while PTP standalone cargo turnover totaled 5 978.5 thousand tons in January 2011.
Container traffic continues to show sustainable growth in the new year. In January 2011 NCSP Group container turnover amounted to 48.8 thousand TEU and doubled in comparison to same period last year. Capacity utilization improved, and handling of containers increased at the NCSP and Novoroslesexport terminals in Novorossiysk by 43.3% and 233.3% respectively, and by 116.6% at the BSC terminal.
In the bulk cargo segment mineral fertilizers and raw sugar in January 2011 recorded growth of 20.3% and 24.3% respectively. Monthly volumes of iron ore remain at high levels reached in the second half of 2010. The Group was not loading grain in the reporting period due to the state export ban being in effect, which caused total bulk volumes decrease by 23.6% or 203.9 thousand tons versus January 2010.
General cargo traffic in January 2011 reduced by 24.6% versus same period last year and comprised 696.8 thousand tons. Timber cargo and ferrous metals volumes reduced by 30% mostly as a result of political instability in some countries of North Africa and the Middle East, who are key importers of these cargoes. Meanwhile a drop in perishable cargo volumes was conditioned by its continuing containerization. On the other hand, non-ferrous metals showed 38.1% growth versus January 2010.
Volumes of liquid cargo more than doubled in January 2011 versus January 2010 thanks to the inclusion of PTP in NCSP Group. Launching new oil products loading project at Primorsk port in January 2011 allowed to increase Group’s total oil products volumes by 24% versus January 2010 and to reach a record level of 1 582 thousand tons. In January 2011 volumes of crude oil loaded by NCSP Group totaled 9 394.3 thousand tons, of which 5 505.5 thousand tons were loaded by PTP, and 3 888.8 thousand tons were loaded at Sheskharis terminal in Novorossiysk, where crude volumes increased by 3.3% or 112.7 thousand tons versus January last year.
NCSP Group Operating Results for January 2011 (thousand tons)
|
January 2011 |
January 2010 |
Change | ||
|
Cargo turnover, total |
12 864.8 |
7 190.2 |
5 674.6 |
78.9% |
|
Liquid cargo, total |
11 017.5 |
5 107.0 |
5 910.5 |
115.7% |
|
Crude oil |
9 394.3 |
3 766.1 |
5 628.2 |
149.4% |
|
Petroleum products |
1 581.9 |
1 276.6 |
305.3 |
23.9% |
|
UAN |
41.3 |
36.2 |
5.1 |
14.0% |
|
Seed oils |
0.0 |
28.0 |
-28.0 |
-100.0% |
|
Bulk Cargo, total |
746.9 |
977.8 |
-230.9 |
-23.6% |
|
Grain |
17.6 |
636.6 |
-619.0 |
-97.2% |
|
Mineral fertilizers |
205.3 |
170.6 |
34.7 |
20.3% |
|
Sugar |
120.6 |
97.0 |
23.6 |
24.3% |
|
Iron ore and ore concentrate |
403.4 |
73.6 |
329.8 |
448.1% |
|
Cement |
0.0 |
0.0 |
0.0 |
0.0% |
|
General cargo, total |
696.8 |
924.4 |
-227.6 |
-24.6% |
|
Ferrous metals |
516.6 |
728.4 |
-211.7 |
-29.1% |
|
Timber |
54.2 |
78.2 |
-24.0 |
-30.7% |
|
Timber, thousand cubic
|
98.5 |
140.4 |
-42.0 |
-29.9% |
|
Non-ferrous metals |
104.3 |
75.5 |
28.8 |
38.1% |
|
Perishable cargo |
5.7 |
32.6 |
-26.9 |
-82.4% |
|
Other |
16.0 |
9.8 |
6.2 |
63.3% |
|
Containers |
403.6 |
181.0 |
222.6 |
122.9% |
|
Containers (thousand TEU) |
48.8 |
20.9 |
27.8 |
133.0% |
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares). NCSP Group consolidated cargo turnover in 2009 totaled 86.5 million tons (excluding Primorsk Trade Port), andc onsolidated revenue to IFRS for 9 months of 2010 totaled $499.4 million and net profit $233.0 million. NCSP Group includes the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact: Tel.: +7 (495) 783-5434; IR@nmtp.info