03 september 2013

Transoil summarizes its performance results for the six months ended 30 June 2013

Transoil LLC, a leading Russian private railway operator of rolling stock, reports on the implementation of the investment project for the acquisition of three 2ES4K ‘Donchak’ series mainline DC electric locomotives. The contract for the purchase of the locomotives produced by the Novocherkassk Electric Locomotive Plant was signed on September 9, 2012. Timeliness of the project is caused by the growth in the proportion of electrified lines on the strategic routes of the Company’s operational area.

The Company’s share in the segment of railway transportation of oil and petroleum products through the Russian Railways network for the first six months of 2013 didn’t change significantly, being stable at 22%. The volume of freight transported by Transoil in January-June 2013 amounts to 27.6 million tonnes compared with 28.2 million tonnes in the same period of previous year. The decline of the freight volume by 2% year-on-year was driven by the maintenance works at the Kirishi Refinery. At the same time the Company showed a more stable dynamics of shipments than the whole Russian sector of oil products transportation, where was recorded a decline of 3%.

In the reporting period, the Company continued the implementation of its program of reorientation to the shipment of light oil products. Its share in the total freight volume increased from 42% in the same period of last year to 45%. Stable gas condensate from Purovsky plant became the main source of this growth, its share in the traffic of light oil products accounts to 15%.

Vladimir Sokolov, CEO of the Company, said that ‘the major trend of our activity in the first two quarters of the year was to find the growth reserves through the practice of modern logistics solutions and creation of the functional fleet management system. The Company in conditions of the surging level of competition continues its consistent development of infrastructure projects in order to improve the quality of the services.’

The greatest share of shipment volume – 74% – was comprised of transportation for key clients of the Company: Gazprom Neft, Rosneft, Surgutneftegas, and Novatek. As of June 30, 2013, the own fleet consisted of 24.7 thousands of tank wagons, the managed fleet exceeded 34.2 thousands of tank wagons. The growth of the values relative to the first six months of 2013 was 68% and 19%, respectively. The average age of the owned cars was 13.4 years.

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