Summa Group News – November 2014 (PT3)

A brief summary of the latest Summa Group news for November 2014 (part three).

Transcript

1. Summa News Latest news from Summa Group 2014 Summa News – Nov 2014 – PT3
2. FESCO Announces New Board of Directors The new board of directors for the Far East Shipping Company (FESCO) has been announced: • Konstantin Sokolov — FESCO President and CEO •Vladimir Korchanov — First Vice President •Alexander Isurin — Vice President, Liner and Logistics Division •Konstantin Kuzovkov — Vice President, Investments and Development •Yury Melyakin — Vice President, Security •Nikolay Rezvov — Vice President, Rail Division The announcement was made on the 21st of November 2014 and sees Vice President for Finance Elena Shmatova resign from the management board and leave the company. Eugenia Tyurikova, Vice President and CFO of Summa Group will be taking control over the company’s financial and economic duties as well as the group’s financial strategy. Summa News – Nov 2014 – PT3
3. NCSP Welcomes Containers from Turkey & Israel Summa News – Nov 2014 – PT3 The Novorossiysk Commercial Sea Port (NCSP) is pleased to announced a new route between Turkey and Israel that will see shipping run along a more direct line. The container service by ARKAS line will connect the Turkish ports Mersin and Limas and Israeli ports Haifa and Ashdod to Novorossiysk by the Reefer Express service (REX). The 11th of November saw the first ship call at Novorossiysk , targeting perishable cargo (food stuffs) from Israel and Turkey. CEO of Novoroslesexport, Albert Likholet, comments on the new route, “We hope it will be in good demand which can boost NCSP Group’s volumes in general.” The Novorossiysk Port’s total area is 95.9 hectares with 43 berths and a total length of 9.15 kilometers.
4. NCSP Group Increases Transshipment to 10m Tonnes Summa News – Nov 2014 – PT3 Summa Group subsidiary NCSP have signed a letter of intent to facilitate increased transhipments of up to 10 million tonnes of iron ore and pig iron per year in conjunction with Metallonivest. The metals will be used to construct a specialised bulk cargo terminal which will include access railways and hydraulic structures at the Port of Novorossiysk in north-east Russia. Sultan Batov comments on the project, “We believe the grounds of Novorossiysk Shipyard suit best for construction of this new terminal. Reconstruction of the Novorossiysk rail hub is the mandatory precondition for implementing the project. At the new terminal NCSP expects to facilitate intake, storage and transshipment of up to 10 million tonnes of bulk cargo by means of its own port infrastructure, utilising state-of-the-art technology and equipment to guarantee the best cargo handling service.” Metalloinvest will be using NCSP’s new cargo terminal to export iron of up to 10 million tonnes per year to North Africa, Middle East, Asia-Pacific and Mediterranean regions.
5. About Summa Group Summa Group specialises and invests in port logistics, engineering, construction, oil and gas sectors as well as telecommunications. Summa Group is a diversified private holding that comprises of more then 10 000 people in 40 regions of Russia and abroad. Mr Ziyavudin Magomedov is the founder and shareholder of the Summa Group, which will reach its 10 year anniversary in 2014. Summa News – Nov 2014 – PT3