OREANDA-NEWS. August 17, 2011. Novorossiysk Commercial Sea Port Group (LSE: NCSP, MICEX: NMTP) reports consolidated operating results for January-July 2011.

To ensure comparability with previous periods the statistics have been adjusted for the volumes handled by Primorsk Trade Port Ltd., which was acquired by NCSP Group in January 2011.

In the first seven months of 2011 liquid cargo volumes recorded an increase of 1 047 thousand tons or 1,4% versus the same period of last year.

Volumes of oil products transshipment across the Group have increased by 34,5% or 2 650 thousand tons. This growth is attributable to diesel transshipment in Primorsk and to increase of bunker fuel loaded from Novorossiysk port berths. Volumes of crude oil declined in the reporting period (- 1 482 thousand tons or -2,2%).

At the beginning of July the embargo on Russian grain exports was lifted.  As a result, NCSP’s grain turnover in July totaled 801 thousand tons.

Growth was also recorded in other bulk cargo positions: iron ore and ore concentrate (plus 1 553 thousand tons or 230%), mineral fertilizers (plus 229 thousand tons or 19%) and sugar (plus 193 thousand tons or 19%).

General cargo turnover in the first seven months of 2011 totaled 5 688 thousand tons, representing a -16% or 1 090 thousand tons reduction versus the same period of last year. Volumes of timber decreased due to events in Northern Africa and the Middle East, which combined represent the largest export market for Russian producers. The decline of ferrous metals volumes is explained by a combination of factors that contribute to the global market environment for this cargo type.

Containers remain one of the most dynamic segments of the Group - in January-July 2011 container traffic in TEU terms increased by 51% versus the same period of last year and totaled 365 thousand TEU.

NCSP Group’s total cargo turnover in the reporting period amounted to 90 429 thousand tons which represents a decrease of 1 439 thousand tons or -1.6% versus January-July 2010.