The authority of sole executive body of Sea Port of Saint Petersburg delegated to TAM

The authority of a sole executive body of Sea Port of Saint Petersburg (including four stevedoring companies in St. Petersburg and Multipurpose Transshipment Complex in Ust-Luga) have been delegated to Transport Asset Management LLC from July 1, 2009 for 3 years, Sea Port of Saint Petersburg reports.

Transport Asset Management LLC is UCLH subsidiary. It was set up in 2008 for optimization of management within the holding. 

Sea Port of St. Petersburg (Group of Companies) includes First Stevedoring Company CJSC, Second Stevedoring Company CJSC, Third Stevedoring Company, Forth Stevedoring Company CJSC, Multipurpose Transshipment Complex in Ust-Luga and a number of service companies. In 2008, the Group’s stevedoring companies handled 11 million tonnes of cargo. The Group’s specific share in total throughput of Big Port of St. Petersburg makes some 18%. 

Universal Cargo Logistics Holding В.V. is a transport holding controlling Sea Port of Saint Petersburg OJSC and Commercial Seaport of Taganrog OJSC. The Holding’s total throughput exceeded 35 million tonnes in 2008.

UCLH now plans to close the transaction on acquisition of the control stock of Volgo-Balt Transport Holding Limited controlling North-Western Shipping Company OJSC, Volga Shipping OJSC and a number of other shipping and shipbuilding companies.

The holding’s strategy implies consolidation of transport assets including those related to maritime, river and railway transportation as well as stevedore business.

(Source: Port News)