PJSC 'Novorossiysk Commercial Sea Port' (NCSP)
NCSP Group's consolidated cargo turnover for 2019 totaled 142.5 million tons
27-Jan-2020 / 15:30 MSK
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NCSP Group's consolidated cargo turnover for 2019 totaled 142.5 million tons
January 27, 2020
NCSP Group (LSE: NCSP, MOEX: NMTP) informs that the normalized[1] cargo
turnover of NCSP Group (with the sale of NGT LLC taken into account) for
2019 grew by 7.8% y-o-y.
Key drivers
- Increase in crude oil transshipment volumes (+18.6%) amid the general
growth in export of this raw material from Russia.
- Increase in iron ore raw materials transshipment (+22.1%) due to high
export activity.
- Growth of raw sugar transshipment volumes (growth by 2.1 times) against
the background of recovery of cane raw material supplies to Asian CIS
countries.
Liquid cargo
In 2019, liquid cargo transshipments at NCSP Group's terminals grew by 13.8%
or 13,836 thousand tons y-o-y, and totaled 114,377 thousand tons.
In 2019, crude oil transshipments totaled 78,562 thousand tons. Compared to
the results in 2018, the increase was 18.6% (12,332 thousand tons), which is
10.5 p.p higher than the industry rate. Oil products transshipment grew to
34,690 thousand tons, by 447 thousand tons, or 4.4% which is 1.1 p.p. higher
than the industry rate.
In 2019, liquid fertilizers transshipments (UAN) slightly decreased (-4.4%)
to 762 thousand tons. The turnover of seed oils grew by 33.9% or 92 thousand
tons and reached 364 thousand tons.
The terminal for seed oils transshipment at IPP LLC handled 351 thousand
tons of seed oils in 2019.
Bulk cargo
In 2019, the normalized turnover of bulk cargoes at NCSP Group's terminals
(with the sale of NGT LLC taken into account) had a decrease of 8.6% (849
thousand tons) y-o-y and totaled 8,986 thousand tons.
Grain transshipments dropped by 44.4% (2,103 thousand tons), to 2,633
thousand tons, against the background of a decrease in exports from Russia.
Iron ore raw materials turnover grew by 22.1% or 546 thousand tons to 3,019
thousand tons against the backdrop of high export activity.
Coal transshipments increased by 21.6% (by 311 thousand tons), to 1,755
thousand tons, due to the recovery of demand on foreign markets.
The turnover of chemical products grew by 24.6% or 143 thousand tons and
amounted to 724 thousand tons.
Raw sugar turnover was up 2.1 times or 292 thousand tons and reached 563
thousand tons.
Transshipment of other ore cargo reduced by 11.5% to 292 thousand tons.
General cargo
In 2019, general cargo transhipments at NCSP Group's terminals decreased by
13.2%, or 1,983 thousand tons, and totaled 12,983 thousand tons.
Ferrous metals and cast iron transshipments decreased by 1,948 thousand tons
(-14.5%), to 11,523 thousand tons, at the background of unfavorable foreign
market conditions, stronger rouble, and high prices on the Russian domestic
market.
Nonferrous metals transshipments grew by 8% to 1,081 thousand tons (+80
thousand tons), at the background of favorable aluminum market conditions.
Timber cargo transshipments remained practically the same and totaled 308
thousand tons.
Perishable cargoes turnover amounted to 71 thousand tons.
Container turnover
In 2019, the turnover of containers through NCSP Group's berths in
twenty-foot equivalent grew to 638 thousand TEU, by 18 thousand TEU, or
2.9%. Cargo turnover amounted to 5,951 thousand tons which is 2.8% less
y-o-y.
Other cargo
In 2019, turnover of other cargoes at NCSP Group's terminals amounted to 203
thousand tons, down by 69.5% y-o-y.
Normalized cargo turnover of NCSP Group in January-December 2019/2018 in
thousand tons (with the sale of NGT LLC taken into account).
January-December Change
2019 2018 thousand tons %
Cargo 142,501 132,129 10,371 7.8%
turnover,
total
Liquid cargo, 114,377 100,541 13,836 13.8%
total
Crude oil 78,562 66,229 12,332 18.6%
Oil products 34,690 33,243 1,447 4.4%
UAN 762 797 -35 -4.4%
Oils 364 272 92 33.9%
Bulk cargo, 8,986 9,835 -849 -8.6%
total
Grain 2,633 4,736 -2,103 -44.4%
Chemical 724 582 143 24.6%
cargo
Sugar 563 271 292 108.0%
Iron ore raw 3,019 2,473 546 22.1%
materials
Other ore 292 330 -38 -11.5%
cargo
Coal 1,755 1,444 311 21.6%
General 12,983 14,965 -1,983 -13.2%
cargo, total
Ferrous 11,523 13,471 -1,948 -14.5%
metals and
cast iron
Timber 308 309 -2 -0.5%
Timber 559 562 -3 -0.5%
(thousand
cubic meters)
Nonferrous 1,081 1 001 80 8.0%
metals
Perishable 71 184 -113 -61.2%
cargo
Containers 5,951 6,121 -170 -2.8%
Containers 5,951 6,121 -170 -2.8%
Containers 638 620 18 2.9%
(thousand
TEU)
Other cargo 203 667 -464 -69.5%
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 for Q1 2019 amounted to 71.75
million tons. The Group's consolidated revenue as per IFRS totaled USD 951
million in 2018. 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, NCS LLC, Baltic Stevedore Company LLC, and JSC SFP.
For more information, please contact:
For press: MSidorov@ncsp.com
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[1] Normalized indicators of NCSP Group's cargo turnover for 2018-2019: the
grain turnover through NGT LLC and Berth No. 3 from May 1, 2018 to December
31, 2018 are not taken into account in the transshipment volume.
ISIN: US67011U2087
Category Code: MSCH
TIDM: NCSP
LEI Code: LEIA0010014976
Sequence No.: 42747
EQS News ID: 961369
End of Announcement EQS News Service
(END) Dow Jones Newswires
January 27, 2020 07:30 ET (12:30 GMT)
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