Primorsk Port wins anti-monopoly case in Court of Appeal
NCSP Group reports that on 28 September 2017 the Ninth Arbitration Court of Appeal in Moscow has rules in favor of Primorsk Trade Port LLC (PTP), a company of NCSP Group, and upheld the previous ruling of the Arbitration Court of Moscow, in the case to appeal and indictment of the Federal Anti-Monopoly Service of Russia (FAS).
Previously on 08 June 2017 the Arbitration Court of Moscow ruled to satisfy the appeal of PTP and declared invalid an indictment by FAS dated 21.11.2016 which accused PTP of breaching the Federal law On Protection of Competition and upholding monopolistically high tariffs and demanded to cancel them.
NCSP Group is the largest port operator in Russia and the third largest in Europe by cargo turnover in 2016. NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2016 totaled 147 million tons. 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, JSC SFP.