Global Ports Investments Russian terminals' box volumes up 8pc in 2012
GLOBAL Ports Investments (GPI) has achieved an eight per cent year on year increase in throughput at its Russian container terminals to handle 1.4 million TEU in 2012.
The solid growth comes as Russia's container market outperformed other BRIC nations-China, India and Brazil - in 2012. The company commands a 30 per cent share of the Russian market.
Revenues rose by 0.1 per cent to US$501.8 million and earnings before interest, tax, depreciation and amortisation (EBITDA) increased two per cent to $288 million.
Said Lloyd's Loading List: "The increase of just 0.1 per cent, despite strong container volume growth, highlighted the fact that increased revenues in the Russian ports sector were undermined by the performance of oil product terminals."
In 2012, volumes from its Russian container terminals accounted for 73 per cent of total revenues, while its Finnish terminals contributed four per cent of revenues.
Said chairman Nikita Mishin: "We continued to invest in our operations, expanding capacity at Petrolesport, as well as consolidating ownership of [Vostochnaya Stevedoring Company], one of the group's key assets and an important gateway for Far East trade.
"Russia remains a bright spot in the context of the global container industry with a 2012 growth rate more than double that of the global average."
The company attributed the positive results to market growth, strict cost control and improved efficiency, as well as positive foreign exchange-rate effects.
APM Terminals acquired a 37.5 per cent equity interest in the terminal operator last year.
GLOBAL Ports Investments (GPI) has achieved an eight per cent year on year increase in throughput at its Russian container terminals to handle 1.4 million TEU in 2012.
The solid growth comes as Russia's container market outperformed other BRIC nations-China, India and Brazil - in 2012. The company commands a 30 per cent share of the Russian market.
Revenues rose by 0.1 per cent to US$501.8 million and earnings before interest, tax, depreciation and amortisation (EBITDA) increased two per cent to $288 million.
Said Lloyd's Loading List: "The increase of just 0.1 per cent, despite strong container volume growth, highlighted the fact that increased revenues in the Russian ports sector were undermined by the performance of oil product terminals."
In 2012, volumes from its Russian container terminals accounted for 73 per cent of total revenues, while its Finnish terminals contributed four per cent of revenues.
Said chairman Nikita Mishin: "We continued to invest in our operations, expanding capacity at Petrolesport, as well as consolidating ownership of [Vostochnaya Stevedoring Company], one of the group's key assets and an important gateway for Far East trade.
"Russia remains a bright spot in the context of the global container industry with a 2012 growth rate more than double that of the global average."
The company attributed the positive results to market growth, strict cost control and improved efficiency, as well as positive foreign exchange-rate effects.
APM Terminals acquired a 37.5 per cent equity interest in the terminal operator last year.