NCSP Group inaugurates LSF handling facility
Novorossiysk Commercial Sea Port Group (“NCSP Group,” the “Group”) (LSE: NCSP, MICEX-RTS: NMTP) announces that its subsidiary IPP has launched low-sulphur fuel handling capacity, the Group news release said.
On 22 August 2012 the first ship with low-sulphur fuel left the IPP berth.
IPP cleansed three reservoirs for storage of the new type of fuel in preparation for the launch.
NCSP Group CEO Rado Antolovic said: “The first cargo arrived at the terminal on 15 August 2012, and on 20 August we were already working with the first tanker – the Nikos Tomasos. Loading of 30,000 tonnes of fuel was completed in two days.
“The IPP fuel terminal is the only one in southern Russia with the capability to handle low-sulphur products. This product contains only 10 ppm of sulphur and is therefore less damaging to the environment.
“We plan to handle between 120,000 and 150,000 tonnes of low-sulphur fuel per month going forward.”
About NCSP Group
NCSP Group is the largest Russian port operator and the third largest in Europe by cargo turnover. NCSP shares are traded on Russia's MICEX-RTS exchange (ticker: NMTP) and its GDRs are traded on the London Stock Exchange (ticker: NCSP). NCSP is 50.1% owned by Novoport Holding Ltd, the beneficial owners of which are Transneft and Ziyavudin Magomedov (Summa Group). NCSP Group’s cargo turnover in 2011 totalled 157 million tonnes. Consolidated IFRS revenue in 2011 totalled USD1,050 million, with EBITDA of USD550 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Oil Terminal Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC NLE, OJSC IPP, and Baltic Stevedore Company Ltd.
