Mechel-Trans makes highest bid for Port Vanino state-owned stake
Posted by: Admin on Dec 07, 2012 - 07:37 PM
LLC Mechel-Trans has proposed the maximum offering price of RUB 15.5 billion for the state-owned 55% shares of OJSC Port Vanino, the Property Management agency (Rosimushchestvo) said. The open tender process for the state-owned stake in Port Vanino was announced on September 28 and held on December 7. Among bidders are JSC Mezhdurechye, LLC Mechel-Trans, JSC Sea Port Saint Petersburg , JSC Port Invest, JSC Siberian Anthracite, OJSC SUEK and LLC En+Port. The Mechel-Trans MOP of 15,500,151,645 rubles is more than 10 times than the minimum price set at RUB 1.5 bn.
The buyer, price and other terms of the deal are subject to approval by the Federal Government. JSC Vanino Commercial Sea Port (Port Vanino) is the major stevedore company of the Port of Vanino based in Khabarovsk Territory. The company is a successor of the Vanino port founded in 1943. The Russian Government holds a 55-percent stake in the company. The port is a gateway for trade flows between Russia and Japan, South Korea, China, Australia, USA and other countries of Asia Pacific Region. Vanino also handles imports shipped to the northern regions of Russia. The Port Vanino owns the 2.5-km-long waterfront featuring multipurpose and specialized terminals, 16 berths, outdoor / indoor warehouses and handling equipment.
The berths depth enables the port to accommodate 45,000dwt vessels. The company also operates a fleet of workboats, tugs, carrying out mooring operations, transporting passengers and supplying merchant ships with water. In 2011, cargo throughput at Port Vanino terminals shrank 1.7% to 5.9 million tons. In 2011, Port Vanino reported net income of RUB 339.4 million, a 3.9-times growth year-over-year. Mechel-Trans Ltd. is a subsidiary of Mechel Transportation Holding, which is the main carrier of its rail freight, ranked among ten major rail carriers in Russia.