REG - PJSC Novorossiysk - Trading Statement <Origin Href="QuoteRef">NMTP.MM</Origin>

Novorossiyskiy morskoy torgovyi port PAOAnnouncement

21/10/2016 14:30

RNS Number : 2052N
PJSC Novorossiysk Comm. Sea Port
21 October 2016
Press-release
NCSP Group Volumes for 9M 2016 Up 6.3% to 110.5 mln tons
21.10.2016
NCSP Group (LSE: NCSP, MOEX: NMTP) hereby reports that Group's consolidated cargo turnover in January-September 2016 increased by 6518 thousand tons or 6.3% y-o-y, and reached 110487 thousand tons.
Transshipment of liquid cargo in the reporting period increased by 5354 thousand tons or 6.6% y-o-y, and totaled 86118 thousand tons, of which:
- Crude oil volumes are up by 4931 thousand tons or 8.8% y-o-y to 61259 thousand tons;
- Oil products volumes are up by 446 thousand tons or 1.9% y-o-y to 24209 thousand tons.
Crude oil volumes continue to grow faster than oil products while the current export duty makes exporting crude more attractive than refining it, oil products volumes are also restricted by seasonal maintenance at some of the Russian refineries and by rescheduling of some shipments to the last quarter of the year.
Volumes of bulk cargo for 9M 2016 comprised 8775 thousand tons, of which:
- Grain totaled 4047 thousand tons, down 10.1% y-on-y;
- Chemical cargo and sugar comprised 734 and 582 thousand tons respectively;
- Iron ore was up by 616 thousand tons or 40.2% y-o-y reaching 2149 thousand tons;
- Coal volumes up by 177 thousand tons or 16.3% y-o-y to 1263 thousand tons.
Decrease in grain volumes is conditioned by external factors in the reporting period. This includes low export prices, which are unattractive to Russian producers, and the gain export duty, which was in effect until September 23, 2016. Exports to Egypt, which is the largest importer of Russian grain, were suspended due to zero ergot content requirement, which was changed only in October.
Transshipment of chemical cargo and sugar is down due to unfavorable pricing in these markets.
Growth in coal slowed down due to the introduction of new import duties by Turkey, which is a large buyer or Russian coal.
Transshipment of general cargo in 9M 2016 increased by 1063 thousand tons or 10.1% y-o-y, and reached 11634 thousand tons, of which volumes or ferrous metals and pig iron were up by 1087 thousand tons or 12.2% y-o-y and totaled 10034 thousand tons.
Container traffic ion the reporting period totaled 3960 thousand tons or 356 thousand TEU, up by 1.6% in tons and down 0.6% y-o-y in TEU.
NCSP Group Cargo Turnover for January-September 2016 (thousand tons)
9M 2016
9M 2015
Change
Change %
Cargo turnover, total
110 487
103 969
6 518
6.3%
Liquid cargo, total
86 118
80 764
5 354
6.6%
Crude oil
61 259
56 328
4 931
8.8%
Oil products
24 209
23 763
446
1.9%
UAN
510
520
-10
-1.9%
Seed oils
140
154
-13
-8.7%
Bulk cargo, total
8 775
8 735
40
0.5%
Grain
4 047
4 500
-453
-10.1%
Chemical cargo*
734
847
-114
-13.4%
Sugar
582
769
-186
-24.3%
Iron ore and ore concentrate
2 149
1 533
616
40.2%
Coal
1 263
1 087
177
16.3%
General cargo, total
11 634
10 571
1 063
10.1%
Ferrous metals 
10 034
8 947
1 087
12.2%
Timber
419
483
-64
-13.2%
 Timber (thousand cubic meters)
760
876
-116
-13.2%
Non-ferrous metals
838
880
-42
-4.8%
Perishable cargo
32
125
-94
-74.8%
Other
311
136
175
128.5%
Containers
3 960
3 899
62
1.6%
 Containers (thousand TEU)
356
358
-2
-0.6%
About NCSP Group
NCSP Group is the largest port operator in Russia and the third largest in Europe by cargo turnover in 2015. NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2015 totaled 139.7 million tons. Consolidated revenue to IFRS in 2015 totaled $877 million and EBITDA $657 million. NCSP Group consists of: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.
Contacts
Kristina Senko, Public Relations: KSenko@ncsp.com
Mikhail Shchur, Investor Relations: MShchur@ncsp.com

This information is provided by RNS
The company news service from the London Stock Exchange
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