Last checked at 14 Mar 2013 15:00
PRESS RELEASE
NCSP Group turnover in January-February 2013 amounted to 24 mln tonnes
14.03.2013
Novorossiysk Commercial Sea Port Group ("NCSP Group" or the "Group") (LSE: NCSP, Moscow Exchange: NMTP) announces today that its consolidated cargo turnover for the period of January-February 2013 amounted to 24 million tonnes, compared to 27 mln tonnes in the same period of last year.
Commenting on the Group's results for January-February 2013, Group CEO Rado Antolovic said: "The decrease in turnover volumes was mostly conditioned by two factors, both of which are beyond the control of the Group. These factors are the changes to the oil pumping schedule throughout Russia's trunk pipeline system and a redistribution of crude volumes between various export routes, as well as actual cessation of grain exports due to the poor grain crop of 2012. Excluding these negative effects, we in fact achieved sustainable growth in total handling volumes of all other cargo, and growth in segments like oil products, timber, ferrous metals and containers significantly outperformed the market."
Liquid cargo
Handling of liquid cargo in the reporting period decreased by 2,260.4 ths tonnes (or 10%) year-on-year to 20.3 million tonnes. Crude oil handling totalled 15.8 million tonnes, compared to 19.1 mln tonnes in the same period of last year.
At the same time, oil products turnover demonstrated solid growth, increasing by 1,059 ths tonnes (or 31.5%) compared to January-February 2012 and amounting to 4.4 mln tonnes. For the same period growth in oil products transhipments at all Russian sea ports combined amounted to 1.6% compared to 2012 levels, according to ASOP*.
Bulk cargo
In the first two months of 2013, NCSP Group handled 924.9 ths tonnes of bulk cargo. The decrease of 950.3 ths tonnes relative to January-February 2012 was largely due to a decline in grain volumes caused by a poor harvest.
Handling of mineral fertilizers in January-February 2013 amounted to 176.6 ths tonnes compared to 222.2 ths tonnes in the same period of the previous year. At the same time, 35.2% more fertilizer was loaded in February 2013 than in January 2013 and a 17.4% increase in volumes was recorded compared to February 2012.
Handling of iron ore and ore concentrate increased by 15.7% year-on-year, amounting to 364.7 ths tonnes. Cargos such as sugar and cement likewise demonstrated robust growth.
General cargo
General cargo continued growth in all categories in the first two months of 2013, with throughput increasing by 258.4 ths tonnes (15%) and amounting to 1,984.9 mln tonnes. Volumes of ferrous metals increased by 176.7 ths tonnes (12.2%) year-on-year against the 7.1%* year-on-year decrease of ferrous metals handling at all Russian seaports combined in the reporting period. Timber volumes grew by 24.7% year-on-year, despite overall timber volumes at Russian sea ports decreasing by 18.1%* in the first two months of 2013. Handling of non-ferrous metals and timber grew by 29 ths tonnes and 17.5 ths tonnes, respectively.
Containers
NCSP Group total container throughput in January and February 2013 increased by 11.4 thousand TEU (12.8%) year-on-year. The highest growth was achieved at OJSC Novoroslesexport in Novorossiysk, where volumes increased 33.7%. The Groups container turnover in tonnage grew by 4.1%, much better than industry's average growth of 2.9%* year-on-year.
* ASOP: Russian sea port turnover for 2 months 2013 (in Russian) http://www.morport.com/rus/publications/document1366.shtml
NCSP Group Cargo Turnover in January-February 2013
('000 tonnes)
Type of cargo | 2013 | 2012 | Change | Change, % |
Cargo turnover, total | 24,010.7 | 26,931.8 | (2,921.1) | (10.8%) |
Liquid cargo, total | 20,313.8 | 22,574.2 | (2,260.4) | (10.0%) |
Crude oil | 15,766,8 | 19,079.5 | (3,312.7) | (17.4%) |
Oil products | 4,424.4 | 3,365.4 | 1 059.0 | 31.5% |
UAN | 95. 8 | 60.5 | 35.3 | 58.3% |
Seed oils | 26.8 | 68.8 | (42.0) | (61.0%) |
Bulk cargo, total | 924.9 | 1,875.2 | (950.3) | (50.7%) |
Grain | 67.4 | 1,278.8 | (1,211.4) | (94.7%) |
Mineral fertilizers | 176.6 | 222.2 | (45.6) | (20.5%) |
Sugar | 93.7 | 22.8 | 70.9 | 310.2% |
Iron ore and ore concentrate | 364.7 | 315.2 | 49.5 | 15.7% |
Scrap Metal | 0.0 | 5.7 | (5.7) | (100.0%) |
Cement | 50.7 | 30.5 | 20.2 | 66.3% |
Coal | 171.8 | 0.0 | 171.8 | 0.0% |
General cargo, total | 1,984.9 | 1,726.6 | 258.4 | 15.0% |
Ferrous metals | 1,626.6 | 1,449.9 | 176.7 | 12.2% |
Timber | 88.3 | 70.8 | 17.5 | 24.7% |
Timber. thsd. cubic meters | 160.5 | 128.7 | 31.8 | 24.7% |
Non-ferrous metals | 199.2 | 170.2 | 29.0 | 17.1% |
Perishable cargo | 48.3 | 17.3 | 31.0 | 179.0% |
Other | 22.5 | 18.4 | 4.2 | 22.6% |
Containers | 787.1 | 755.8 | 31.3 | 4.1% |
Containers, thsd. TEU | 100.4 | 89.0 | 11.4 | 12.8% |
For your convenience, NCSP Group's monthly cargo turnover data is available in Excel format on the company's website.
AboutNCSP 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:
Kristina Senko, Public Relations
KSenko@ncsp.com
Mikhail Shchur, Investor Relations
MShchur@ncsp.com