OREANDA-NEWS. On 02 June 2009 Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announced that it has established a new subsidiary – OOO Novorossiysky Mazutny Terminal (Novorossiysk Fuel Oil Terminal) registered at 4 Magistralnaya street, Novorossiysk, 353900, Russian Federation – holding 50% of ownership thereof as of 19 May 2009.

Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group’s consolidated cargo turnover in 2008 totaled 81.6 million tonnes. Consolidated revenue to IFRS for the 2008 totaled USD 653.777 million.

NCSP shares are traded on Russia’s RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares).

NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.