Novorossiysk Commercial Sea Port

OJSC Novorossiysk Commercial Sea Port
Native name
 ОАО Новороссийский морской торговый порт
Public (OAO)
Traded as MCX: NMTP
LSE: NCSP
Industry Shipping industry
Founded 1957 (1957)
Headquarters Novorossiysk, Russia
Key people
 Aleksandr Anatolievich Ponomarenko, (Chairman)
Products Sea port services
Revenue $866 million[1] (2016)
$600 million[1] (2016)
$633 million[1] (2016)
Total assets $2.18 billion[1] (2016)
Total equity $591 million[1] (2016)
Owner Federal Agency for State Property Management (20%)[2]
Website www.nmtp.info

JSC Novorossiysk Commercial Sea Port (NCSP Group) (Новороссийский морской торговый порт) is Russia's largest commercial sea port operator and the third largest port operator in Europe.[3][4] The company is headquartered in the city of Novorossiysk on the Black Sea coast.[5] The company operates the Port of Novorossiysk and the Baltic ports of Primorsk and Baltiysk.[4]

Overview

The company provides stevedoring services, including shipment of oil and oil products, other liquid cargo, dry bulk cargo and general cargo. It provides tug, towing and mooring services for vessels in and around the Novorossiysk seaport, and also provides emergency, hazardous materials response and waste management services at the Port.[5]

Following the financial crisis in 1998, business partners Alexander Ponomarenko and Alexander Skorobogatko started to purchase shares in cargo companies that they eventually combined to form NCSP Group. In 2011, the majority stake in NCSP was sold to Summa Capital and Transneft for $2.5 billion.[6]

In 2017, the company oversaw a cargo turnover of 143.5 million tons.[4] The company handled about 18% of total cargo turnover in Russia in 2017.[7]

Revenue in 2008 was $653 million, while net profit was $95 million.[8] In 2017, the net profit of NCSP Group was $439 million. This marked a 31% from $632 million in 2016. Revenue, however, increased 4% to reach $899 million.[4]

In February 2018, Summa Group announced it would sell its shares in NCSP Group to Transneft, who currently hold 30.5% of NCSP through their subsidiaries. After the arrest of the Magomedovs in April, Summa Group and Transneft have stopped negotiating the sale of NCSP stake.[4]

On April 6, 2018, it was announced that the shareholders of NCSP Group will elect a new board of directors on April 13, 2018. This is in response to the arrest of Summa Group co-owners Ziyavudin Magomedov and his brother Magomed Magomedov.[7]

Ownership

Novoport Holding owns 50.1% of the shares of NCSP. Novoport is made up of Transneft Group and Summa Group.[9] The Federal Property Management Agency owns 20% of shares, and Transneft Services holds another 10.5%. 14.4% of shares are shared publicly on the Moscow and London stock exchanges.[9] Transneft owns a 35.5% of NCSP, 25% via shares in Novoport Holding, and the remaining 10.5% of directly via their subsidiary Transneft Services.[10]


References

  1. 1 2 3 4 5 http://www.nmtp.info/upload/iblock/f35/ncsp-ifrs-cons-fs-16_e-_usd_.pdf.
  2. ↑ "Список аффилированных лиц". E-disclosure.ru. Retrieved 25 August 2017.
  3. ↑ "Novorossiysk Sea Port sets IPO price range". Reuters. 2007-10-22. Retrieved 2009-06-01.
  4. 1 2 3 4 5 "Чистая прибыль Группы НМТП в 2017 году снизилась на 31% Подробнее на РБК". Retrieved 24 April 2018.
  5. 1 2 "Jsc Novorossiysk Commercial Sea Port Company Snapshot". Corporateinformation. Retrieved 2009-06-01.
  6. ↑ "Как устроен бизнес покупателя "дворца Путина" в Геленджике и его партнера". Vedomosti. Retrieved 24 April 2018.
  7. 1 2 "Отрицательная «Сумма». Контроль над Новороссийским портом уплывает от опальной группы". Fedpress. 2007-10-22. Retrieved 24 April 2018.
  8. ↑ "2008 Annual report" (PDF). Novorossiysk Commercial Sea Port. Retrieved 2009-06-01.
  9. 1 2 "Share capital and securities". Novorossiysk Commercial Sea Port. Retrieved 24 April 2018.
  10. ↑ "Company Overview of Novoport Holding Limited". Bloomberg. Retrieved 24 April 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.