11:36 12.05.2020

Q1 results of SE STP “Yuzhny”

4 min read

State stevedoring company “Yuzhny sets cargo handling records and significantly improves operational performance in the first quarter of 2020. Progressive changes and comprehensive optimization of cargo operations provide a steady increase in productivity.

In the first quarter of 2020, the SE STP “Yuzhny” handled 4 million 597,7 thousand tonnes of cargo. This result is the historical maximum of the quarterly cargo handling for the state company. In March 2020, SE STP “Yuzhny” fixed a monthly record of 1 million 777,3 thousand tonnes of cargo (updated in April 2020 – 1 million 981,7 thousand tonnes). The cargo nomenclature includes iron ore, coal, cast iron, grains and products of their processing, mineral fertilizers. The main cargo is iron ore – 83% of the total cargo turnover.

During the first three months of this year, 3 million 374,4 thousand tonnes of export cargo passed through Sea Commercial Port “Yuzhny”, which is 52% more than in the same period last year. 3 million 803 thousand tonnes of iron ore (+ 66%) were handled within this period.

There is a positive trend in the import cargo handling. SE STP “Yuzhny” handled 688,2 thousand tonnes, which is a twofold increase in comparison with the first quarter of 2019.

“Despite the difficult global situation, the Ukrainian port industry is developing. Since the beginning of the year, SE STP “Yuzhny” has been setting new records. It takes place during the pandemic and crisis. The results of the first quarter demonstrate the effective management and port team efficiency,” said the Minister of Infrastructure of Ukraine Vlasdyslav Kryklii.

The state stevedoring company handled 67 230 rail cars. It is 48% more than last year. There is a tendency to increase the daily rate of rail cars discharging. The record number is 799 rail cars per day on March 28, 2020 (updated in May 2020 – 890 units).

In the first quarter of 2020, 62 vessels were handled at the berths of SE STP “Yuzhny”. There were 36 Capesize vessels, which is a twofold increase in comparison with the same period last year.

At the end of the first quarter of 2020, the transition to the International Accounting and Reporting Standards was completed, which began on January 1, 2018. The financial statements of the company (beginning with 2019) have been prepared in accordance with the requirements of these standards.

Net profit for the three months of this year amounted to 221,316 million UAH, which is 210,949 million more (+ 2035%) than for the same period last year. 90% of this amount is transferred to the state.

In the first quarter, the state stevedoring company paid taxes of 234,704 million UAH, which is 110,538 million UAH more (+ 89%) than for the same period last year.

“The current situation is difficult in Ukraine and in the world, sea ports are key elements of the state economy. SE STP “Yuzhny” rationally organizes handling operations and supports the country budget. Record monthly and quarterly figures, an increased daily rate of rail cars discharging, an increased number of Capesize vessels – such results were achieved thanks to effective planning and competent coordination of cargo operations,” commented acting director of SE STP “Yuzhny” Oleksandr Oliinyk.

“Sea Commercial Port “Yuzhny” is located on the north-west coast of the Black Sea in the nonfreezing Adzhalyksky estuary and it is the deepest port in Ukraine. The company provides a wide range of loading & discharging services, storage and related works; it handles bulk, general and break-bulk cargoes. Scheduled cargo delivery and cargo handling are effectively performed due to the convenient location of the railroad station “Beregova”, developed infrastructure of the road and rail ways. The company operates five deep-water berths, two of which are dedicated to handling of Capesize vessel up to permissible DWT. Annual cargo turnover of the company is 15,07 mt.