CMA CGM launches direct container line service between Novorossiysk and China

Novorossiysk Commercial Sea Port begun handling Panamax-class container vessels at its dedicated container terminal, operated by Novoroslesexport (NLE), a subsidiary of NCSP.

BUXSTAR container carrier with a capacity of 3940 TEU of French container line CMA CGM became the first Panamax-sized container vessel to call at Novorossiysk on September 16, 2008.

The arrival of BUXSTAR is a milestone that marks the launch of the first direct container line service between Novorossiysk and China, which is expected to become regular. NCSP has also become the first Russian port to handle Panamax-class container vessels.

NLE container terminal is now capable of handling large-size container vessels as a result of expansion works carried out in 2007, when terminal’s capacity was increased to 350 000 TEU per annum. This project was implemented in the framework of NCSP’s long-term comprehensive investment program aimed at expanding port’s total handling capacity.

Today NLE handles container vessels of up to 5 000 TEU, against 2 000 TEU previously. The terminal works with most of the world’s major container lines like MSC, CMA CGM, Evergreen, Hapag-Lloyd, CSCL, EMES, NORASIA.

According to the Association of Sea Ports, OJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2007 totaled 79.4 million tonnes. OJSC NCSP is listed on the London Stock Exchange and Russia's RTS and MICEX. In 2007 NCSP’s earnings for 2007 totaled US$ 483.4 million, EBITDA -- US$ 227.9 million, and net profit -- US$ 93.7 million (according to consolidated financial statements under IFRS).

NCSP group includes the six stevedoring companies: OJSC NSCP, OJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, OJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.