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12.07.2013 NCSP Group turnover in 1H 2013 amounted to 72.1 mln tonnes

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) announces today that its consolidated cargo turnover for the first half of 2013 amounted to 72.1 million tonnes, compared to 81.6 million tonnes in the same period of 2012.

 

Liquid cargo

 

Handling of liquid cargo in 1H 2013 was 61,018 ths tonnes, compared to 66,704 ths tonnes in January-June 2012.

Crude oil handling in the reporting period totalled 47,818 ths tonnes, oil products handling amounted to 12,801 ths tonnes, while seed oil and liquid fertilizers (UAN) volumes were 104 ths tonnes and 296 ths tonnes, respectively.

Group’s total oil products handling in 1H 2013 increased by 40.5% tonnes year-on-year. Oil products volumes at Groups terminals in Novorossiysk were up by 30.9% or 1,962 ths tonnes year-on-year. Novorossiysk Fuel Oil Terminal volumes standalone grew by 1,522 ths tonnes, or 142.2% year-on-year. Oil products handling at the Primorsk Trade Port were up by 1,725 ths tonnes, or 62.6% year-on-year.

UAN handling during the first six months of 2013 doubled year-on-year.

 

Bulk cargo

 

In 1H 2013, NCSP Group handled 3,025 ths tonnes of bulk cargo compared to 6,389 tonnes in 1H 2012.  The decrease was primarily due to low grain volumes, which amounted to 478 ths tonnes in 1H 2013, down 3,715 ths tonnes compared to 1H 2012. During the reporting period grain exports were limited by high domestic prices and low grain stocks as a result of the poor crop in 2012.

Iron ore handling remained largely unchanged year-on-year, despite a year-on-year decrease of 8.5% at all Russian sea ports during the first six months of 2013, according to ASOP*. Cement handling for 1H 2013 increased 6.7% year-on-year.

Raw sugar handling in June declined significantly month-on-month after a 50% increase in import duties imposed by Russia and other members of the Customs Union. The higher volumes in previous months were due to sugar producers stockpiling imported raw materials ahead of the introduction of the new import duty.

 

General cargo

 

General cargo volumes in 1H 2013 amounted to 5,577 ths tonnes.  Ferrous metals volumes were down 5% year-on-year, which is a smaller decline than the 11.6% year-on-year decrease seen at all Russian sea ports during the period, according to ASOP*. Timber handling decreased by 28.8% year-on-year, in line with overall industry trends.

 

Containers

 

NCSP Group’s total container throughput in January-June 2013 was 321.3 ths TEU, which is in line with 2012 volumes. Container volumes are under pressure due to macroeconomic factors, including global trades slowdown. The decline in container volumes measured in tonnes was due to the material share of empty containers in export container traffic.

 

NCSP Group Cargo Turnover in January-June 2013 (’000 tonnes)


Type of cargo

6M 2013

6M 2012

Change

Change, %

Cargo turnover, total

72,121.6

81,555.1

(9,433.5)

(11.6%)

Liquid cargo, total

61,018.4

66,703.9

(5,685.5)

(8.5%)

Crude oil

47,818.0

57,109.5

(9,291.5)

(16.3%)

Oil products

12,801.3

9,114.4

3,687.0

40.5%

UAN

295.5

149.0

146.5

98.3%

Seed oils

103.6

331.1

(227.5)

(68.7%)

Bulk cargo, total

3,024.7

6,389.0

(3,364.3)

(52.7%)

Grain

477.9

4,193.5

(3,715.6)

(88.6%)

Mineral fertilizers

443.7

567.8

(124.1)

(21.9%)

Sugar

461.4

466.0

(4.6)

(1.0%)

Iron ore and ore concentrate

1,007.0

1,002.7

4.4

0.4%

Scrap Metal

2.6

20.8

(18.2)

(87.5%)

Cement

147.7

138.4

9.3

6.7%

Coal

484.4

0.0

484.4

0.0%

General cargo, total

5,576.7

5,838.8

(262.1)

(4.5%)

Ferrous metals

4,507.7

4,740.5

(232.7)

(4.9%)

Timber

245.2

344.3

(99.1

(28.8%)

Timber. ths cubic metres

445.4

622.5

(177.1)

(28.4%)

Non-ferrous metals

540.4

575.3

(34.9)

(6.1%)

Perishable cargo

162.9

114.0

48.9

42.9%

Other

120.5

64.7

55.8

86.1%

Containers

2,501.8

2,623.4

(121.6)

(4.6%)

            Containers, ths TEU

321.3

319.3

2.0

0.6%

 

For your convenience, NCSP Group's monthly cargo turnover data is available in Excel format on the company’s website.

 

*ASOP: Cargo handling volumes at Russian sea ports for 1H 2013 (in Russian) http://www.morport.com/rus/publications/document1406.shtm

 

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 2012 totalled 159 million tonnes. Consolidated revenue according to IFRS in 2012 totalled USD 1,034 million and EBITDA was USD 591.5 million. 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


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