OREANDA-NEWS. On 12 February 2008 was announced, that Novorossiysk Commercial Sea Port announced acquisition of the remaining 50% stock of the “Baltic Stevedore Co.” (BSC), which specializes on container cargo and is the first project of NCSP in the Northwestern basin.

Transaction amounted $10 million 750 thousand which is comparable to the market value of 50% of “Baltic Stevedore Co.” estimated by an independent evaluator. This makes NCSP, which bought out initial 50% stock of BSC in 2006, the single owner of the company.

Igor Vilinov, CEO of NCSP, said: “The transaction has been effected as part of our strategy aimed at enhancing our presence in the northwestern region and shipment of highly remunerative cargo. Consolidation of 100% stock of “Baltic Stevedore Co.” shall maximize the efficiency of company management and implementation of the program on increasing its cargo turnover up to 300,000 TEU by 2010”.