Russia prepares privatization of Novorossiysk seaport

Russia is preparing to privatize the state stake in one of the country’s largest port operators.

This concerns 20% of the shares of the Novorossiysk Sea Commercial Port (NCSP), The Moscow Times reports.

“Novorossiysk Sea Commercial Port” is one of the largest stevedoring groups in the Russian Federation. The holding’s assets are located in Novorossiysk (Krasnodar Territory), Primorsk (Leningrad Region) and Baltiysk (Kaliningrad Region).

The entire state stake in the holding will be put up for sale in 2026-2028, which includes two large oil ports that together provide almost half of Russia’s oil exports – Novorossiysk on the Black Sea (capacity of about 500 thousand barrels per day) and Primorsk on the Baltic (about 1 million barrels). NCSP also includes the port of Baltiysk in the Kaliningrad Region.

The largest shareholder of NCSP with a 60% stake is Transneft, the state owns 20% of the shares. Transneft acquired the shares in 2018, shortly after their previous owner, billionaire Ziyavuddin Magomedov, ended up in pre-trial detention, later receiving 19 years in prison in the case of creating an organized criminal group. About 20% of NCSP is owned by private investors, including on the stock exchange.

The state could receive about 33 billion rubles from the sale of the state stake in NCSP, Reuters estimates (over $461 million).

The asset could attract the attention of organizations with state participation from raw materials and transport and logistics corporations to large corporations. Players with small financial capabilities will be unable to either buy out the specified block of NCSP shares or take the position of a strategic investor in this sector.

USM previously reported that Ukrainian drones hit the Russian frigate Admiral Essen and a missile carrier in Novorossiysk.