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Russia Shipping Report Q2 2013 - New Study Released

New Transportation market report from Business Monitor International: "Russia Shipping Report Q2 2013"


Boston, MA -- (SBWIRE) -- 11/09/2013 -- The major recent developments seen in the Russian port sector has been the privatisation of the stake in one of Russia's strategic ports - the Far East port of Vanino - followed by further changes its ownership structure.

The company which won the bidding for the port of Vanino gained a majority stake (55%) in one of Russia's main coal export ports late last year. Unsurprisingly mining companies were lining up to participate, as the trend for major commodity producers investing and developing their supply chains - a trend BMI highlighted four years ago - continues to play out.

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A stake in Russia's largest port, the port of Novorossiysk, is also due to be placed on the block in 2013. A strategic investor is being sought by the government for the sale of the state's 20% stake in Russia's oil and grain export hub. While the current plan is that that the sale of the stake should not be to a firm that could then monopolise the port's operations, the successful firm that purchases the stake will gain access to the Novorossiysk growth story, which BMI is predicting over the next two years, as the port plays a leading role in meeting the supply chain needs of the 2014 Sochi Winter Olympics.

Headline Industry Data

- 2013 port of Novorossiysk tonnage throughput forecast to grow 0.3%; over the medium term we project an 11.5% increase.
- 2013 port of St Petersburg container throughput forecast to grow 7%; over the medium term we project a 55% increase.
- 2013 total trade growth forecast at 5.85%.

Key Industry Trends

Investors Not Yet Convinced By NSR: The successful passage of a liquefied natural gas (LNG) carrier on the Northern Sea Route (NSR) once again highlights the development of this passage into a viable shipping option. Although the development of the NSR initiative has considerable backing from the Russian government, the failure of the privatisation of the port of Anadyr raises questions, as to investors' interest in the scheme.

Mecheltrans Expanding With Vanino Stake: Mecheltrans has increased its stake in the port of Vanino to 23.04% of ordinary shares after acquiring 21.64% of port's ordinary shares from En+ for RUB4.57bn, according to Mechel. The purchase will be funded by the same investors who financed the acquisition of a 55% stake in Vanino last December. BMI highlights that, while Mecheltrans is seeking to expand its operations, a number of other logistics units tied to major metals and mining companies are being sold off as Russia's logistics and freight transport sector consolidates.

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