{"document_url": "https://en.wikipedia.org/wiki/DeloPorts"}
DeloPorts is a Russian stevedoring holding that consolidates the assets of Delo Group at the Novorossiysk Sea Port, comprising NUTEP container terminal, KSK grain terminal and Delo service company and towing operator. The primary beneficiary of DeloPorts is Russian businessman Sergey Shishkarev.

History

The company was registered in 2012 in the city of Limassol in Cyprus as a holding, consolidating assets of Delo Group at the Novorossiysk Sea Port. Initially, Sergey Shishkarev (owner of the Delo Group) had 90% of shares, while 10% belonged to his nephew Timofey Telyatnik, who also was one of the company's presidents. In 2015 the partnership dissolved due to the dissent in business strategies. Shishkarev purchased Telyatnik's share in June 2015 and became the sole owner of DeloPorts, transferring the group to Russian jurisdiction shortly afterwards. At first DeloPorts holding comprised KSK grain terminal, NUTEP container terminal, TOS bunkering company (later renamed into "Delo Service Company") and NNK oil transshipment complex. In late 2013 100% of NNK were sold to Gazpromneft. Later in the same year, DeloPorts sold 25% share of KSK grain terminal to the Cargill food trader.
Structure
Performance
DeloPorts' consolidated revenue in 2019 was 9,835 million roubles (-17,5% compared to 2018), the revenue from the container segment was 4,912 million roubles (+21% compared to 2018), the revenue from the grain segment was around 3,363 million (-44,1%). Consolidated EBITDA was 6,755 million roubles (-23,1%). Net profit was 4,863 million roubles (-20,4%), net liabilities were 22,126 million (+14,4%). Total cargo turnover in 2019 was 8,3 million tons (-4,6% compared to 2018). DeloPorts accrues to the major share of Delo Group cash flow. For instance, in December 2017 — April 2018 Delo Group issued an offering of bonds for $140 mln and raised borrowings for DeloPorts to acquire 30.75% share of Global Ports' stevedoring company.

In October 2019, Expert RA agency affirmed the ruA+ credit rating with a stable outlook for DeloPorts.

From April 2018, the long term B+ corporate credit rating is valid. It was given to DeloPorts by Standard & Poor's. In May 2020 S&P Global Ratings international rating agency reaffirms long term B+ credit ratings in foreign and national currency with a stable outlook and put "DeloPorts" away from the CreditWatch list.

In March 2019, Fitch confirmed BB- long term rating with a stable outlook.