Novorossiysk port cargo up 2.7% in 11 months
Novorossiysk Commercial Sea Port Group, a major outlet for oil and grain exports from Russia, said total cargo turnover rose 2.7 percent in the January-November period to 146.8 million tons.
It said oil products, ferrous metals and grain were among the fastest-growing cargos, showing 15.6 percent, 23.8 percent and 58.6 percent growth, respectively.
The 2.7 percent 11-month rise was a slowdown from the 3.6 percent recorded for January-October. Under its privatization plan, Russia is set to sell a 20 percent stake in Novorossiysk by the end of this year. Economy minister Andrei Belousov said recently Russia may delay the privatization of Novorossiysk until 2013. (Reuters)