Pacific grain terminal project

Construction of a new 100,000t granary has started on the grounds of United Grain Company (OZK)-controlled Novorossiysk Grain Plant (NKHP), Russia’s second largest grain terminal, based at its key southern harbour.

Russia’s United Grain Company (OZK) has, for the second time, sold its 46% stake in the Yeisk Port Elevator (YPE) on the Russian coast of the Sea of Azov.

Russia’s United Grain Company (UGC) has sold its 46% stake in the Yeisk Port Elevator (YPE) on the Russian coast of the Sea of Azov.

In November, Russian president Vladimir Putin instructed relevant authorities to consider switching from US dollars to Russian roubles, when fixing dues/prescribing rates at domestic seaports. The idea was immediately backed by federal seaport agency Rosmorport, which said using the national currency as an equivalent to pay for stevedoring, towage and agents’ services would contribute to the successful operation of domestic harbours.

Russia’s United Grain Company (OZK) is planning to expand its port and grain storage capacities, and to establish its own rail operating company. The firm said it intends to increase its revenues from US$700M last year to US$2.6M by 2020. As part of its development strategy it will shortly acquire a new 1 Mtpa terminal in the Black Sea/Sea of Azov region, upgrade its existing grain terminal in Novorossiysk, build new grain elevators and reconstruct railway approach lines.

The port of Antwerp will collaborate closely over the next five years with Rosmorport, Russia’s state-owned seaports agency.