Russias NCSP Hit by Limited Crude Exports

zoom Russias port operator Novorossiysk Commercial Sea Port Group (NCSP) handled 131.1 million tonnes of cargo in 2014, 7% less compared to 140.9 million tonnes recorded in 2013.  The main drive behind the decrease was a 13.1% dip in overall liquid cargo volumes, which slid from 116,768 million tonnes in 2013 to 101,498 million tonnes in 2014. Increases in dry bulk (+40%), general cargo (12%) and containerised cargo (13.1%) could not compensate for the decline in the companys leading sector. CEO of PJSC NCSP Sultan Batov said: The negative effect on our volumes in 2014 was produced by factors beyond the control of the Group. This includes a reduction in total export of crude oil from Russia, and a material reallocation of export volumes between pipelines and ports in the Far East and the North West regions on Russia. In total volumes of other cargo reduced immaterially. On the other hand we increased transshipment of oil products by 3 579.7 thousand tonnes or 14.8% year-on-year on the back of growing domestic oil refining.