NCSP Group Volumes for 9M 2016 Up 6.3% to 110.5 mln tons

NCSP Group hereby reports that Group's consolidated cargo turnover in January-September 2016 increased by 6 518 thousand tons or 6.3% y-o-y, and reached 110 487 thousand tons.

Transshipment of liquid cargo in the reporting period increased by 5 354 thousand tons or 6.6% y-o-y, and totaled 86 118 thousand tons, of which:

- Crude oil volumes are up by 4 931 thousand tons or 8.8% y-o-y to 61 259 thousand tons;

- Oil products volumes are up by 446 thousand tons or 1.9% y-o-y to 24 209 thousand tons.

Crude oil volumes continue to grow faster than oil products while the current export duty makes exporting crude more attractive than refining it, oil products volumes are also restricted by seasonal maintenance at some of the Russian refineries and by rescheduling of some shipments to the last quarter of the year.

Volumes of bulk cargo for 9M 2016 comprised 8 775 thousand tons, of which:

- Grain totaled 4 047 thousand tons, down 10.1% y-on-y;

- Chemical cargo and sugar comprised 734 and 582 thousand tons respectively;

- Iron ore was up by 616 thousand tons or 40.2% y-o-y reaching 2 149 thousand tons;

- Coal volumes up by 177 thousand tons or 16.3% y-o-y to 1 263 thousand tons.

Decrease in grain volumes is conditioned by external factors in the reporting period. This includes low export prices, which are unattractive to Russian producers, and the gain export duty, which was in effect until September 23, 2016. Exports to Egypt, which is the largest importer of Russian grain, were suspended due to zero ergot content requirement, which was changed only in October.

Transshipment of chemical cargo and sugar is down due to unfavorable pricing in these markets.

Growth in coal slowed down due to the introduction of new import duties by Turkey, which is a large buyer or Russian coal.

Transshipment of general cargo in 9M 2016 increased by 1 063 thousand tons or 10.1% y-o-y, and reached 11 634 thousand tons, of which volumes or ferrous metals and pig iron were up by 1 087 thousand tons or 12.2% y-o-y and totaled 10 034 thousand tons.

Container traffic ion the reporting period totaled 3 960 thousand tons or 356 thousand TEU, up by 1.6% in tons and down 0.6% y-o-y in TEU.

Source: NCSP Group