Press Releases
Consolidation of N-Trans port assets creates a leading container terminals operator
N-Trans, the leading Russian infrastructure group, and Global Ports Investments Plc (“GPI”) announce the completion of the process to consolidate and transfer N-Trans’ port assets to GPI, a recently incorporated company wholly owned by N-Trans. GPI will provide a unified platform for further growth and development in Russia’s fast growing container terminal and oil products handling markets.
GPI highlights
- A leading container terminals operator in Russia with 2007 GPI total gross throughput of 1.1 million TEUs and a 2007 market share of over 30% of all container traffic at Russian ports
- Operates the largest oil products handling terminal in the Baltic with 2007 gross throughput of 13.7 million tonnes of oil products and a 2007 market share of over 30% of all Russian fuel oil exports
- Significant capital investment programme to exploit the growth potential at GPI’s terminals to increase GPI total annual container capacity from 1.8 m TEUs at 31 December 2007 to around 4 million TEUs and oil products storage capacity from 740,000 cbm at 30 June 2008 to 1,240,000 cbm by 2013
GPI’s terminals are located in the Baltic and Far East Basins, key gateways for Russian container imports and exports and Russian fuel oil exports. Substantially all of GPI’s container throughput represents origin and destination business.
According to Drewry Shipping Consultants the Russian container market has grown at a CAGR of 26.7% throughout the last 5 years, faster than in any other country. GPI’s terminals own a majority of the land within its key Baltic and Far East container terminals which provides a significant advantage in delivering its capacity expansion programme.
GPI’s container terminals businesses comprise Petrolesport in St. Petersburg, the second largest container terminal in the North West region of Russia; VSC, the largest container terminal in the Far East Basin; Moby Dik, St Petersburg’s third largest container terminal; Yanino Logistics Park, currently under construction and expected to be the first multi-purpose inland container logistics complex in the St. Petersburg region; and two sea terminals and five container depots in Finland and Poland. VSC is 25% owned by strategic partner DP World while Moby Dik, Yanino and the Finnish operations are 50% owned by strategic partner Container Finance Oy.
GPI’s oil products handling business is Vopak E.O.S (VEOS), the largest fuel oil terminal in the Baltic region by gross throughput and the only independent terminal of its size in the Baltic that can accommodate Very Large Crude Carrier tankers. VEOS is 50% owned by strategic partner Royal Vopak NV.
Comment
Alexander Nazarchuk, CEO of GPI, said:
“Bringing these key port assets together in one company under a unified strategy and management has created a powerful platform for growth in the rapidly developing container handling market in Russia. We now intend to seek to leverage our scale and position as a leading container terminals operator in Russia as we execute our strategy to more than double our capacity and further enhance our efficiency and services to meet the highest international standards.”
Further information:
| GPI Priit Pedaja |
+7 495 961 0272 |
| Citigate Dewe Rogerson David Westover Andrew Hey Toby Moore |
+44 207 638 9571 |
| Citigate Moscow Dmitry Manakov |
+7 495 933 5222 |
Further information about GPI is available at www.globalports.com
About N-Trans
N-Trans is a leading infrastructure group focused on the Russian, CIS and Baltic region transport services markets. Created in 1996 N-Trans comprises over 20 companies operating in a range of core sectors including rail transportation (including London listed Globaltrans Investment PLC), container handling, and transport infrastructure investments. Its 2007 unaudited group revenue exceeded US$1.7 billion.
15.08.08