NCSP Group's consolidated cargo turnover for the first quarter of 2019 rose by 2.7% to 35.95 million tons
May 20, 2019
NCSP Group (LSE: NCSP, MOEX: NMTP) hereby reports that NCSP Group's consolidated cargo turnover for the first three months of 2019 saw an increase of 2.7% compared to the same period last year and amounted to 35,950 thousand tons.
- Growth in crude oil transshipment volumes (+5.2%) amid the general increase in export of this raw material from Russia.
- Increase in oil products turnover (+6.1%) as the result of deeper crude oil processing and attraction of large gasoline shipments to the port of Novorossiysk.
- Iron ore transshipment volumes increased (+49.7%) after low shipments in the first months of last year.
In Q1 2019, the volume of liquid cargo transshipment at NCSP Group terminals was 5.5% higher (1,375 thousand tons) compared to January-March last year and amounted to 26,540 thousand tons.
The volume of crude oil transshipment in January-March 2019 had an increase of 5.2% compared to the same period in 2018 and amounted to 16,429 thousand tons. The volume of oil products transshipment grew by 6.1% or 570 thousand tons to 9,838 thousand tons.
Compared to Q1 2018, transshipment of liquid fertilizers (UAN) increased by 1.5%, and the volume of seed oils transshipment was down by 15.1%.
Transshipment of seed oils to IPP LLC was launched in November 2018. The cargo turnover in January-March 2019 amounted to 83.3 thousand tons.
In the first quarter of 2019, the volume of bulk cargo transshipment at NCSP Group terminals declined by 18.3% or 822 thousand tons compared to January-March last year and amounted to 3,678 thousand tons.
This was caused by low volumes of grain transshipment in comparison with January-March 2018 due to poorer harvest against the record figures in 2017/2018.
Grain transshipment through NCSP Group amounted to 2,215 thousand tons in January-March 2019 (35% lower compared to the same period last year).
The volume of iron ore transshipment increased by 49.7% (260 thousand tons) to 783 thousand tons. Coal transshipment decreased by 4.5% to 379 thousand tons compared to January-March last year due to a significant drop in quotations on foreign markets in 2019.
Chemical and raw sugar turnover amounted to 191 (an increase of 106.6%) and 109 thousand tons (an increase of 41.5%), respectively.
In the first quarter of 2019, the volume of general cargo transshipment at NCSP Group terminals rose by 13.9% or 500 thousand tons compared to January-March last year and amounted to 4,092 thousand tons.
This was caused by rising ferrous metals shipments due to active sales (mainly to EU countries). The volume of ferrous metals and cast iron transshipment increased by 18.8% or 594 thousand tons to 3,755 thousand tons.
Non-ferrous metals, timber and perishable goods transshipment volumes amounted to 239 thousand tons, 82 thousand tons and 15 thousand tons, respectively.
The volume of container transshipment through NCSP Group docks in the first quarter of 2019 amounted to 1,509 thousand tons or 161 thousand TEU, which is 2.8% in tons and 5.7% in TEU more than in January-March 2018.
In Q1 2019, turnover of other cargoes at NCSP Group terminals amounted to 131 thousand tons, down by 53.6% compared to January-March last year.
NCSP Group is the largest port operator in Russia by cargo turnover. PJSC Transneft is the controlling shareholder (62%) of PJSC NSCP.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP Group consists of: PJSC NSCP, LLC Primorsk Trade Port, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC and LLC SFP.
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