Universal Cargo Logistics Holding consolidates transport assets

The authority of a sole executive body of the Sea Port Saint Petersburg Group (including Sea Port of Saint Petersburg OJSC and four stevedoring companies in Big Port of St. Petersburg as well as Multipurpose Transshipment Complex in Ust-Luga, North-Western Shipping Company OJSC, Commercial Seaport of Tuapse OJSC and Volga Shipping OJSC) have been delegated to Transport Asset Management LLC from July 1, 2009 for 3 years, Sea Port of Saint Petersburg reports.

The decision was taken by the shareholders of the Holding at annual meetings of their companies. Transport Asset Management LLC is UCLH subsidiary. It was set up in 2008 for optimization of management within the holding. Oleg Bukin, Chairman of the Board of Directors of Commercial Seaport of Tuapse and the Director General of Independent Transport Company, LLC has been elected the Director General of the managing company.

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, Volga-Flot Tanker OJSC and Oka Shipyard OJSC.

(Source: Port News)