Normalized cargo turnover of the Group (LSE: NCSP, MOEX: NMTP) totaled 92.7 million tons (-21.9%).
Transshipment of liquid cargo amounted to 73.8 million tons, down by 23.6 million tons (-24.2%). The indicator was mostly affected by decrease in transshipment of crude oil (-32%, or 21.6 million tons) against the backdrop of a general decline in cargo turnover of this raw material in Russian ports, following the global trends caused by the COVID-19 pandemic and implementation of the OPEC+ agreement to reduce oil production from May 1, 2020.
Transshipment of dry cargo amounted to 18.9 million tons (-11%, or 2.4 million tons), including 5.8 million tons of bulk cargo (+8,7%, or 0.5 million tons). The increase in bulk cargo transshipment partially offset the decline in ferrous metal and cast iron turnover, as their transshipment volume amounted to 8.1 million tons (-16.3%, or 1.6 million tons).
NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC Transneft.
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.
Source: Novorossiysk Commercial Sea Port