OREANDA-NEWS. May 30, 2012. The Board of Directors of OJSC Vanino Commercial Sea Port recommended to the general meeting of shareholders to hand over the functions of the sole executive body of the managing organization to Innovation Development Center, the company said.

“As a result of selection, in accordance with the recommendation of the Company’s Strategic Planning Committee to consider the Center of Innovation Development as the most suitable candidate among other management organizations," the company’s press release said.
The decision on selection of a managing organization was adopted by the Board of Directors of Port Vanino on May 14, 2012.

JSC Vanino Commercial Sea Port (Port Vanino) is the major stevedore company of the Port of Vanino based in Khabarovsk Territory. The company is a successor of the Vanino port founded in 1943. The Russian Government holds a 55-percent stake in the company. The port is a gateway for trade flows between Russia and Japan, South Korea, China, Australia, USA and other countries of Asia Pacific Region. Vanino also handles imports shipped to the northern regions of Russia. Port Vanino. The Port Vanino owns the 2.5-km-long waterfront featuring multipurpose and specialized terminals, 16 berths, outdoor / indoor warehouses and handling equipment. The berths depth enables the port to accommodate 45,000dwt vessels. The company also operates a fleet of workboats, tugs, carrying out mooring operations, transporting passengers and supplying merchant ships with water. In 2011, cargo throughput at Port Vanino terminals shrank 1.7% to 5.9 million tons. In 2011, Port Vanino reported net income of RUB 339.4 million, a 3.9-times growth year-over-year.