Russia’s steel and mining group EVRAZ has sold its 100% holding in the Nakhodka-based port operator EVRAZ NMTP to its principal stockholder (63.79%), Lanebrook Ltd.
EVRAZ acquired 91% of NMTP in 2003, and bought the remaining shares in 2007. The group is the port operator’s key customer, responsible for around 66% of its 2016 handling volume.
Under the latest deal, EVRAZ will continue delivering agreed cargo volumes under agreed rates to the port over the course of the next five years.
According to NMTP’s MD, Vyacheslav Sarayev, coal accounts for about 70% of the stevedoring firm’s aggregate handling volume. Lanebrook Ltd plans to turn NMTP into a dedicated coal terminal. With its current capacity of 12 Mt, NMTP plans to handle around 10.3 Mt this year.