NCSP Group (LSE: NCSP, MICEX: NMTP) reports that currently, port of Novorossiysk has capacity surplus for handling rail cars. This became possible due to restructuring of the Operations department, conducted in early March of this year, and to the coordination of dispatch services of NCSP Group and North-Caucasus Railway.
According to Deputy CEO for Marketing and Sales of PJSC NCSP Rado Antolovic, “Companies of NCSP Group, located in the port of Novorossiysk, at present handle more than 1,200 rail cars a day and have a capacity headroom of another 250-300 rail cars a day”.
According to Executive director of PJSC NCSP Yuriy Matvienko, “This topic was discussed at a meeting today with Vadim Morozov - First Vice-President of JSC "Russian Railways"”.
“Based on results of the meeting, we expect to solve the issue with operators of abandoned cars sent to other companies operating in Novorossiysk. They are causing delays in traffic towards Novorossiysk transport hub via North-Caucasus Railway which it turn limits the increase in discharging volumes", added Yuriy Matvienko.
According to R. Antolovic, "it is important to note that the joint efforts to create a Logistics and Information Center of NCSP Group is already yielding results. In the future its operation will increase the degree of visibility of operational planning for rail car supplies toward Novorossiysk transport hub from 4 to 10 days and will reduce the pressure on North-Caucasus Railway.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).
50.1% shares of PJSC "NCSP" belongs to Novoport Holding Ltd, beneficiaries owners of which are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group consolidated cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $404 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Trade Port Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;
Investement Community: MGrigoriev@nmtp.info