Last checked at 13 Feb 2013 16:30
PRESS RELEASE
NCSP Group reports January 2013 turnover of 12.4 million tons
13.02.2013
Novorossiysk Commercial Sea Port Group ("NCSP Group" or "the Group") (LSE: NCSP, Moscow Exchange: NMTP) today announces that consolidated total cargo turnover for January 2013 was 12.4 million tons, down 9.7% year-on-year (y-o-y).
NCSP Group CEO Rado Antolovic said: "Cargo handling in January was affected by severe weather conditions in the first half of the month, technical incidents outside our control, and negative market trends that developed in late 2012 in specific cargoes. Despite all this, management was able to mitigate the situation thanks to strong performance in cargoes such as oil products, metals, forest products, coal and containers."
Liquid cargo
Handling of liquid cargo in the reporting period declined by 1,022thousand tons (or 8.8%) y-o-y, to 10.6 million tons. Crude oil handling in January 2013 totalled 8.3 million tons, compared to 9.9 million tons in January 2012. One of the factors affecting crude volumes was a supply disruption caused by emergency works on the Kuibyshev-Lisichansk pipeline to Novorossiysk.
At the same time, volumes of oil products increased by 618.3 thousand tons (or 36.7%) compared to January 2012, and totalled 2.3 million tons. Growth was driven by the Novorossiysk Fuel Oil Terminal, which reached full capacity in October 2012.
Bulk cargo
NCSP Group handled 440 thousand tons of bulk cargo in January 2013. The decline of 492.4 thousand tons y-o-y was due primarily to a dramatic reduction in grain handling in the second half of 2012 after the poor crop, and also by lower volumes of mineral fertilisers.
The Group saw good growth in sugar and cement, which increased 37.0% and 27.1%, respectively. Coal handling also continued to grow, and in January totalled 90.6 thousand tons, the highest since the Group started handling coal in August 2012.
General cargo
General cargo in the reporting period grew across the board, with volumes increasing by 132.6 thousand tons (or 15.6%) and totalling 982 thousand tons. Handling of ferrous metals was the biggest gainer in the segment, increasing by 78.6 thousand tons (or 10.9%) y-o-y.
Shipments of non-ferrous metals and forest products grew by 18.5 thousand and 22.1 thousand tons, respectively.
Containers
NCSP container throughput in January 2013 increased by 6.6 thousand TEU y-o-y, with the fastest growth rate of 35.3% achieved at the NLE terminal in Novorossiysk.
NCSP Group Turnover in January 2013('000 tonnes)
Type of cargo | January 2013 | January 2012 | Change | Change, % |
Cargo turnover, total | 12,422.7 | 13,758.2 | (1,335.5) | (9.7%) |
Liquid cargo, total | 10,606.5 | 11,628.3 | (1,021.8) | (8.8%) |
Crude oil | 8,251.5 | 9,883.6 | (1,632.1) | (16.5%) |
Oil products | 2,301.7 | 1,683.4 | 618.3 | 36.7% |
UAN | 32.7 | 33.0 | (0.3) | (0.9%) |
Seed oils | 20.6 | 28.3 | (7.7) | (27.2%) |
Bulk cargo, total | 439.8 | 932.2 | (492.4) | (52.8%) |
Grain | 41.2 | 570.3 | (529.1) | (92.8%) |
Mineral fertilisers | 75.1 | 135.7 | (60.6) | (44.7%) |
Sugar | 31.3 | 22.8 | 8.5 | 37.0% |
Iron ore and ore concentrate | 184.7 | 187.0 | (2.3) | (1.2%) |
Scrap metal | 0.0 | 3.1 | (3.1) | - |
Cement | 16.9 | 13.3 | 3.6 | 27.1% |
Coal | 90.6 | 0.0 | 90.6 | - |
General cargo, total | 981.9 | 849.3 | 132.6 | 15.6% |
Ferrous metals | 801.4 | 722.8 | 78.6 | 10.9% |
Timber | 48.9 | 26.8 | 22.1 | 82.5% |
Timber, thsd. cubic meters | 88.9 | 48.7 | 40.2 | 82.5% |
Non-ferrous metals | 100.9 | 82.4 | 18.5 | 22.4% |
Perishable cargo | 18.6 | 7.4 | 11.2 | 152.0% |
Other | 12.1 | 9.9 | 2.2 | 22.2% |
Containers | 394.5 | 348.4 | 46.2 | 13.2% |
Containers, thsd. TEU | 48.2 | 41.7 | 6.6 | 15.8% |
For your convenience, NCSP Group's monthly cargo turnover data is also downloadable in Excel format from the company's website.
About NCSP Group
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). 50.1% shares of PJSC "NCSP" belong to Novoport Holding Ltd, the beneficial owners of which are OJSC "Transneft" and Summa Group. NCSP Group cargo turnover in 2011 totalled 157 million tonnes. Consolidated revenue according to IFRS totalled $1,050 million and EBITDA was $550 million, in 2011. NCSP Group consolidates the following companies: PJSC "Novorossiysk Commercial Sea Port", LLC "Primorsk Trade Port", PJSC "Novorossiysk Grain Terminal", OJSC "Novorossiysk Ship Repair Yard", OJSC "NCSP Fleet", OJSC "NLE", OJSC "IPP", CJSC "Baltic Stevedore Company" and CJSC "SFP".
Contacts:
Media relations: KSenko@ncsp.com
Investor relations: MShchur@ncsp.com