The Moscow arbitration court on Friday, July 21, invalidated the decision of the FAS that the task of the NCSP to transfer to the budget income in the sum of 9.74 billion rubles, resulting from the abuse of a dominant market position, and transfer fees from currency into rubles. About it reports TASS.
At the end of 2015, President Vladimir Putin was indignant that the services are carried out in Russian ports in foreign currency and instructed to look into the matter. In the execution of this request, the FAS conducted a study of the market of stevedoring services in the Russian sea ports in the period from 2013 to 2016. In the end, in the summer of 2016 Antimonopoly service has initiated a number of proceedings, including in relation to the NCSP.
The Antimonopoly service also received complaints of “Rosneft” and “RussNeft”, which declared the inflated rates of the NCSP.
In the end, the Commission FAS has established that the NCSP group sets tariffs for services of transshipment in dollars, and second, increased tariffs from January 2015 without objective justification. Since the NCSP is a natural monopoly, such an increase in tariffs — abuse of a dominant position, decided Antimonopoly service and was awarded a penalty 9.74 billion. the decision of the NCSP and has challenged in Arbitration court of Moscow, which completely took her side. According to the Agency “Interfax”, the debate of the parties referred to the methods of conducting market analysis and determine its geographical boundaries. The representative of the NCSP at the meeting said that the FAA improperly conducted competitive market analysis and incorrectly defined its boundaries. Representative FAS, in turn, attempted to refute the arguments of the port and asked the court to refuse the claim.
The representative of the FAS told RBC that they plan to appeal the decision.
After the news about the victory of the NCSP its shares on the Moscow stock exchange grew by 4%, to 7.4 RUB apiece, capitalization amounted to 142.5 bn (17:20 GMT).
In June, the NCSP group won at FAS similar case on one of its terminals in the port of Primorsk. The regulator in November 2016 ordered to transfer all of the prices for oil transshipment in the port of Primorsk from dollars to rubles and to reduce them to the level of 2014 inflation and government projections. But the group challenged this decision.
NCSP is Russia’s largest port group. Its major terminals are located in Novorossiysk and Primorsk. The main cargo for the group are oil and oil products, which accounted for 78% of the total turnover. The company’s shares are traded on the Moscow and London exchanges.
The government abolished state regulation of tariffs in Russian ports in 2013-2014.