Primorsk Port wins anti-monopoly case in court
NCSP Group says that on 8 June 2017 the Arbitration Court of Moscow ruled in favor of Primorsk Trade Port LLC (PTP), a company of NCSP Group, in the case to appeal and indictment of the Federal Anti-Monopoly Service of Russia (FAS).
The court has ruled to satisfy the claim of PTP and hold invalid an indictment by FAS dated 21.11.2016 on the case №1-10-84/00-016, which accused PTP of breaching the Federal law On Protection of Competition and upholding monopolistically high tariffs for transshipment of crude oil and oil products, and demanded to cancel these tariffs.
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. Consolidated revenue to IFRS in 2016 totaled $865.5 million and EBITDA $675.5 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, JSC SFP.
