Throughput of NCSP Group in H1’2020 fell by almost 10% YoY
Handling of liquid bulk cargo dropped due to the pandemic implications
In January-June 2020, NCSP Group handled 62.7 million tonnes of cargo, down 9.4%, year-on-year, the Group says.
In the reporting period, handling of liquid bulk cargo fell by 8.9% to 50.8 million tonnes.
According to the statement, the result was most affected by reduction of crude oil handling (-15.5% or 5.8 million tonnes) amid the global trends caused by the COVID-19 pandemic. Meanwhile, handling of light oil products grew by 8.2% to 1.2 million tonnes.
Handling of dry cargo totaled 11.8 million tonnes (down 11.3%, or 1.5 million tonnes) including 3.6 million tonnes of dry bulk cargo (+21% or 0.6 million tonnes).
NCSP says that the growth in the segment of dry bulk cargo compensated the decrease in handling of ferrous metal which dropped by 1.2 million tonnes, or 18.6% to 5.1 million tonnes.
NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC Transneft.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as global depositary receipts (NCSP). NCSP Group's cargo turnover in 2019 amounted to 142.5 million tons. The Group's consolidated revenue as per IFRS totaled USD 866.4 million in 2019. NCSP Group is comprised of PJSC Novorossiysk Commercial Sea Port, Primorsk Trade Port LLC, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, IPP LLC, Baltic Stevedore Company LLC, and JSC SFP. PJSC NCSP and PJSC Transneft own NCS LLC on a parity basis.
