NCC lets go of NUTEP operation

There have been a lot of changes over the last few years. FESCO paid $375m for Severstaltrans’ 50% stake in NUTEP’s parent, National Container Company (NCC) in 2006.

Then last year Mr Kobzar picked up FESCO’s stake, for $900m. The move helped works to resume on the development of NCC’s Ust-Luga Container Terminal project which FESCO had pulled back from, citing bad market conditions.

This latest sale leaves the Delo Group and the unnamed party in control of NUTEP. Alexander Voronkov of NCC told Port Strategy that, following the sale of the NUTEP operation, the company is now “focused on the development of its terminals in the Baltic region”.

First Quantum Group and Andrey Kobzar still hold half of NCC’s shares, and Mr Kobzar said he was “satisfied” with the company’s operational results.