NCSP Group Operating Results for January-March 2011
Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS & MICEX: NMTP) hereby reports consolidated operating results for January-March 2011. In the reporting period NCSP Group cargo turnover amounted to 37 245.2 thousand tons.
To ensure comparability of the previous periods cargo statistics must be adjusted for the volumes loaded by Primorsk Trade Port Ltd., which was acquired by NCSP Group in January 2011. Taking this into account NCSP Group cargo turnover in the first quarter of 2011 decreased by 1 581.2 thousand tons versus same period last year.
In the reporting period a few cargoes showed organic growth versus same period last year. Oil products increased by 949 thousand tons; iron ore and ore concentrate volumes grew by 619,5 thousand tons; container handling were up by 489 thousand tons; and volumes of non-ferrous metals, bulk fertilizers, sugar, and other cargo increased by 219,7 thousand tons together.
Continuing growth of container volumes allowed to reach a maximum level of container terminals utilization in the first quarter of 2011. Group’s container traffic in TEU terms in January-March 2011 increased by 77.6% versus same period last year and totaled 153 thousand TEU. Container handling at the NLE, BSC, and NCSP terminals grew by 115.8%, 105.4%, and 13.5% respectively.
Bulk cargo volumes in the reporting period reduced by 1 374 thousand tons versus same period last year, due to the grain export embargo being in effect, which alone resulted in a loss of 2 154 thousand tons, compensated by growing handling of bulk fertilizers, iron ore, and sugar.
General cargo traffic in the first quarter of 2011 reduced by 628.6 thousand tons versus same period last year and comprised 2 275.4 thousand tons.
Liquid cargo volumes in January-March 2011 totaled 31 894 thousand tons. Loading of oil products increased by 25% versus January-March 2010. Crude oil volumes in the reporting period comprised 27 081.5 thousand tons, which is by 932.8 thousand tons less than the volumes of the same period last year (taking into account PTP’s 2010 volumes).
Analyzing the dynamics of the cargo turnover in the current year, it is important to note that virtually all cargoes showed positive growth rates in March compared with February 2011, and the total turnover of the Group increased by 31.1% (3 285.5 thousand tons). The volume of containers handled increased by 37.8% (16.6 thousand TEU); ferrous metals - by 62.2% (287.5 thousand tons); timber cargo – by 100% (28.6 tons), oil products and crude oil - by 28.4% (392 thousand tons and 2200 thousand tons respectively) in March versus February 2011.
NCSP Group Cargo Turnover for January-March 2011 (thousand tons)*
|
|
Jan-March 2011 |
Jan-March 2010 |
Change | |
|
Cargo turnover. total* |
37 245.2 |
38 826.4 |
-1 581.2 |
-4.1% |
|
Liquid cargo. total* |
31 894.0 |
31 961.6 |
-67.6 |
-0.2% |
|
Crude oil* |
27 081.5 |
28 014.4 |
-932.8 |
-3.3% |
|
Petroleum products |
4 737.1 |
3 788.1 |
949.0 |
25.1% |
|
UAN |
75.4 |
121.1 |
-45.8 |
-37.8% |
|
Seed oils |
0.0 |
38.1 |
-38.1 |
-100.0% |
|
Bulk Cargo. total |
1 832.1 |
3 206.0 |
-1 373.9 |
-42.9% |
|
Grain |
68.3 |
2 222.1 |
-2 153.9 |
-96.9% |
|
Mineral fertilizers |
602.5 |
492.6 |
109.9 |
22.3% |
|
Sugar |
346.3 |
298.6 |
47.8 |
16.0% |
|
Iron ore and ore concentrate |
812.1 |
192.7 |
619.5 |
321.5% |
|
Cement |
2.9 |
0.0 |
2.9 |
0.0% |
|
General cargo. total |
2 275.4 |
2 904.0 |
-628.6 |
-21.6% |
|
Ferrous metals |
1 728.6 |
2 281.9 |
-553.3 |
-24.2% |
|
Timber |
140.5 |
255.5 |
-115.0 |
-45.0% |
|
Timber. thousand cubic meters |
255.5 |
451.6 |
-196.1 |
-43.4% |
|
Non-ferrous metals |
294.5 |
259.1 |
35.4 |
13.7% |
|
Perishable cargo |
53.5 |
73.0 |
-19.5 |
-26.7% |
|
Other |
58.2 |
34.4 |
23.8 |
69.2% |
|
Containers |
1 243.8 |
754.9 |
488.9 |
64.8% |
|
Containers (thousand TEU) |
153.0 |
86.2 |
66.9 |
77.6% |
*Taking into account PTP’s 2010 volumes
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 in the form of GDRs (NCSP). NCSP Group consolidated cargo turnover in 2010 totaled 81.6 million tons (excluding Primorsk Trade Port), and consolidated 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:
+7 (8617) 650 043; senko@ncsp-net.com; IR@nmtp.info