• 2018 December 17 17:15

    NCSP Group's consolidated cargo turnover for January-October totaled 116,946 thousand tons

    NCSP Group reports that the consolidated cargo turnover of the Group's terminals for January–October 2018 decreased by 2.4% respecting the same period of the last year and amounted 116,946 thousand tons.

    Main drivers: Growth trends in transshipment of oil products and grain remained positive (+12.4% and +22.7% respectively); Cargo turnover of ferrous metals and cast iron increased (+11.3%) due to the increase in deliveries to Europe and Southeast Asia; Reduction in crude oil transshipment by 13.6% due to the redistribution of oil exports from the West to the East, as well as due to an increase in the load of Russian refineries;

    In January–October 2018, transshipment of liquid cargo at NCSP Group's terminals decreased by 6.1% or 5,496 thousand tons and amounted to 83,944 thousand tons, including 54,879 thousand tons of crude oil; 28,176 thousand tons of oil products; 646 thousand tons of UAN, and 243 thousand tons of seed oils.

    Transshipment of crude oil decreased by 13.6% or 8,618 thousand tons, including in Novorossiysk (decrease by 9.6%) and Primorsk (decrease by 16.2%). At the same time, transshipment of oil products increased by 12.4% or 3,106 thousand tons, which is 8.2 p.p. higher than the industry growth rate (according to Association of Commercial Sea Ports (ASOP)).

    Transshipment of liquid fertilizers (UAN) increased by 24.1%, transshipment of seed oils, on the contrary, decreased by 31.2% compared to the same period in 2017.

    In January–October 2018, transshipment of bulk cargo at NCSP Group's terminals increased by 7.1% or 960 thousand tons compared to the same period last year and amounted to 14,534 thousand tons.

    Bulk cargo turnover increased mainly due to the growth of grain transshipment volumes against the background of high yield in the last grain season (2017/2018) and record exports in the first month of the new season (2018/2019), which was facilitated by the excitement in the grain market caused by the news about the drought in the agricultural regions of Europe and Australia.

    Transshipment of grain increased by 22.7% or 1,975 to 10,657 thousand tons. The volume of iron ore raw materials transshipment remained almost the same, having amounted to 2,011 thousand tons. Transshipment of coal decreased by 27% or 464 thousand tons to 1,254 thousand tons due to lower purchasing power of consumers in Turkey amid ongoing devaluation of Turkish lira. According to Argus Media, high-quality Russian coal is replaced with lower quality and lower cost coal or with petroleum coke.

    Transshipment of chemical cargo and raw sugar amounted to 457 and 155 thousand tons, respectively.

    Despite the growth of transshipment volumes, the share of NCSP Group in grain turnover of Russian ports increased (1.3 times, according to ASOP), which is caused by a significant increase in exports of grain through small ports of the Azov Sea.

    In January–October 2018, transshipment of ferrous metals and cast iron increased by increased by 11.3.% or 1,130 thousand tons and reached 11,165 thousand tons. Transshipment of nonferrous metals, timber and perishable cargo amounted to 826 thousand tons, 262 thousand tons and 173 thousand tons, respectively.

    In the reporting period, NCSP Group's container turnover amounted to 5,160 thousand tons or 515 thousand TEU, which is 5.1% in tons and 5.6% in TEU higher compared to the same period in 2017.

    In January–October 2018, transshipment of other cargo at NCSP Group's terminals amounted to 882 thousand tons, increasing 2,7 times due to the involvement of various cargo to transshipment, which are mainly cargoes shipped in big bags and special containers at the direct option. 

    NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2017. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2017 totalled 143.5* million tonnes. Consolidated revenue to IFRS in 2017 totalled USD 899.8 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, LLC Novorossiysk Grain Terminal, JSC Novorossiysk shiprepair yard, JSC FNCSP, JSC NLE, LLC IPP, LLC Baltic Stevedore Company, and JSC SFP.

     




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