IPP LLC doubles the size of its tank battery for seed oil transshipment
18 August, 2020
NCSP Group (LSE: NCSP, MOEX: NMTP) informs on the commissioning by IPP LLC (part of NCSP Group) of the third tank with a commodity weight of 8,000 tons, which enabled the company to expand its tank battery for the transshipment of seed oil up to 16,000 tons.
In the first half of 2020, 272,500 tons of seed oil were transshipped through IPP LLC. The peak volume of transshipment was seen in March of this year. It amounted to 76,900 tons.
IPP LLC has all the means to transship seed oils by taking over the cargo from both rail and road transport. In July this year, a project for the arrangement of two areas for draining of seed oils from tankers in the amount of 1,000 tons per day (or 50 trucks) was delivered.
To date, the terminal is actively increasing its production capacity. IPP LLC expects to put into operation one more tank for seed oils with a commodity weight of 8,000 tons in early 2021.
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.
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