July 2, 2015 [PortNews IAA] - So far, Transneft, JSC, and Summa Group have no plans on division of Novorossiysk Commercial Sea Port (NCSP) assets into oil carriers and dry-cargo vessels, Maksim Grishanin, First Vice President of Transneft, said at the AMS of NCSP answering the shareholders' questions.
At the annual meeting of 30 June 2015, NCSP shareholders elected the Board of Directors, and the ratio of shareholder representatives was preserved. Transneft, JSC, has the following representation at the BoD: Maksim Grishanin, First Vice President, Mikhail Barkov, Vice President, and Sergey Kireev, General Director of Transneft Service, JSC.
The Summa Group is represented at the Board of Directors by Vladimir Kayashev, President, and Marat Shaidaev, member of the Board of Directors. Vitaly Sergeychuk, Deputy Head of Directorate of Rosimushchestvo (Federal Agency for State Property Management of the Russian Federation), is the voice of the state.
Overall, the Board of Directors has six elected members plus one appointed by the state as the owner of the ‘golden share’ (now it is Viktor Olersky, Deputy Minister of Transport).
Rosimushchestvo owns 20% of shares in the port. The Summa Group and Transneft, JSC, hold 50.1% of NCSP shares pari passu. Transneft, JSC, independently controls another 10.5% of NCSP stock. The structures of Russian Railways own 5.3%, while the rest are the free-floating shares.
NCSP Group unites the following companies: Novorossiysk Commercial Sea Port, JSC (NCSP, parent company), Primorsk Commercial Port, LLC, Novorossiysk Grain Terminal, JSC (NGT), Novorossiysk Shiprepair Yard, JSC (NSRY), NCSP Fleet, JSC, Novoroslesexport, JSC (NLE), IPP, JSC, the Baltic Stevedore Company, LLC (BSC), and SFP, CJSC.
Transneft is Russian oil transporting state monopoly (75% of voting shares are controlled by the state) and the largest pipeline company in the world holding 48,708 km of trunk pipelines.
