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Nornickel consolidates river transport assets

The new company will manage the Yenisei River Shipping Company, the Krasnoyarsk River Port and the Krasnoyarsk Shipyard

KRASNOYARSK, July 3. /TASS/. Nornickel’s all river transport assets will be managed by newly-organized Nornickel-YRSC, the Yenisei River Shipping Company (Nornickel is a main shareholder) announced in a release, published on Wednesday.

"From July 16, Nornickel’s all river transport assets will be managed by Nornickel-YRSC - a managing company, which has been organized for this purpose," the release reads. "Thus, Nornickel organizes a consolidated commercial platform for its river assets, which will offer customer-oriented services, and which will favor higher labor productivity and lower expenses."

The new company will manage the Yenisei River Shipping Company, the Krasnoyarsk River Port and the Krasnoyarsk Shipyard. Clients will appreciate addressing one company to organize any transport services along the Yenisei.

The new company’s Director General would be Oleg Shpagin, who has been Director of Nornickel’s Krasnoyarsk Transport Division. The newly organized company will be owned solely by the Nornickel Company.

The Yenisei River Shipping Company is the biggest cargo transporter along water routes in the Yenisei River basin. The company has the biggest in the Krasnoyarsk region fleet of dry-cargo and tanker vessels. Total deadweight of the fleet’s 460 vessels is 650,000 tonnes.

Nornickel is a diversified mining and metallurgical company, the world’s leading producer of nickel and palladium, a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, osmium, selenium, ruthenium and tellurium. Nornickel is involved in exploration, production, enrichment and processing, as well as production and sale of non-ferrous and precious metals.

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