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21 Dec 2010

RESULTS FOR 9 MONTHS 2010

RNS Number : 3536Y
OJSC Transcontainer
21 December 2010
 

21 December 2010
OJSC TransContainer
TRANSCONTAINER OPERATING RESULTS FOR 9 MONTHS 2010
Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE: TRCN) announces its operating results for the nine months ended September 30, 2010. 
The results show a continuing improvement in key operational metrics, reflecting both the overall market recovery and the Company's focus on restoring profitability.
Rail Transportation equipment for shipping cargo via various means of transport. Containers are durable enough for repeated use and can be stacked. Containers are divided into medium-duty (three- and five-tonne), which conform to former Soviet Union standards and are still used for shipments in Russia and the CIS, and ISO (20- and 40-foot) containers, which are used for Russian and international shipments. The universal standard unit TEU (twenty-foot equivalent unit) was introduced to measure transport flow volumes.
container
transportation volumes
Rail container transportation volumes for the nine months ended 30 September 2010, increased by 5.0% to 869 thousand twenty-foot equivalent units ("TEU") compared to the nine months ended September 30, 2009. This was mainly due to an increase in Import-bound container traffic, as indicated in the respective waybill.
import transportation
by 62.5 thousand TEU, or 87.1%, to 134 thousand TEU.
Domestic transportation for the nine months ended September 30, 2010 declined by 6.9% to 522.1 thousand TEU compared to the same period in 2009. This was mainly due to the Company's focus on more profitable destinations, in line with its efficiency improvement policy.
Transportation of containers by TransContainer's fleet (ISO Loaded + Empty), 000' TEU
 9m09 9m10 Change
   000' TEU %
Domestic Routes 561 522 (39) (6.9)%
Export 182 191 9 5.2%
Import 72 134 62 87.1%
Freight passing from one country to another through a third country. Whether cargo is permitted to transit a certain country and under what terms is subject to trade agreements and treaties between countries. Direct transit is when foreign goods are shipped under tariff protection, without holding at a customs warehouse; indirect transit is when goods arrive at customs warehouses and are then transported abroad.
Transit
 14 22 8 62.1%
All Routes 828 869 41 5.0%
 
As a result of the above, the share of domestic transportation in TransContainer's transportation volumes decreased from 67.8% for the nine months ended September 30, 2009 to 60.1% for the nine months ended September 30, 2010; while the share of import transportation almost doubled from 8.7% to 15.4%, respectively.
Breakdown of container transportation volumes by TransContainer's fleet
  9m09 9m10
Domestic Routes  67.8% 60.1%
Export  21.9% 22.0%
Import  8.7% 15.4%
Transit  1.6% 2.5%
All Routes  100.0% 100.0%
 
Terminal handling
Throughput of TransContainer's terminal network for the nine months ended September 30, 2010 amounted to 1,166 thousand TEU, representing an increase by 92.1 thousand TEU, or 8.6% compared to the same period of 2009.
 
Assets and asset utilisation
The Company's railcar fleet as at September 30, 2010 comprised 25,251 units compared to 24,735 units as at December 31, 2009. During the reporting period TransContainer pursued a policy aimed at improving the fleet structure with a focus on the acquisition of 80ft flatcars. As a result, as of September 30, 2010, the Company's fleet capacity had grown by 4.2% to 73,499 TEU from 70,543 TEU as at December 31, 2009.
Railcar fleet as of September 30, 2010
 
A specialised type of rolling stock designed to carry ISO containers.
Flatcar
type Leased Owned Total TEU capacity Breakdown by TEU capacity
40 ft 1,477 5,058 6,535 13,070 17.8%
60 ft 0 14,435 14,435 43,305 58.9%
80 ft 286 3,995 4,281 17,124 23.3%
Total 1,763 23,488 25,251 73,499 100.0%
 
The Company's container fleet remained largely unchanged at 58,621 units, of which 42,291 units were 20ft containers and 16,330 units were 40ft containers.
The Company's key asset utilization metrics have also shown significant improvement in the nine months ended September 30, 2010.
 9m 2009 9m 2010 Change
Turnover of containers, days 26.6 21.9 (4.7)
Turnover of flatcars, days 15.9 14.4 (1.5)
   
For containers - transporting an empty container on a flatcar, for flatcars – a flatcar run without container(s) or any non-container cargo.
Empty run
for containers, % 41.3% 39.9% (1.4)%
Empty run1 for flatcars, % 8.1% 9.2% 1.1%
1Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers
In particular, the turnover of flatcars and containers improved, reflecting, inter alia, growth in container transportation by block-trains: for the nine months ended September 30, 2010, the number of block-trains launched by TransContainer increased by 126.7% to 1,469 compared to the same period of 2009. In the nine months ended September 30, 2010 TransContainer transported 197.8 thousand TEU in block-trains compared to 77.9 thousand TEU transported in block-trains in the nine months ended September 30, 2009.
Contacts:
TransContainer
Andrey Zhemchugov
Director, Capital Markets and Investor Relations
Phone: +7 (499) 262 8506, e-mail: ir(at)remove-this.trcont.ru
College Hill, London
Simon Whitehead, Leonid Fink, Tony Friend
Phone : +44 (0) 207 457 2020

This information is provided by RNS
The company news service from the London Stock Exchange

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