WELCOME TO THE СOMPANY OF "NAOGAZDOBYCHA JSC"
NAOGAZDOBYCHA. JSC ’s history goes back to 1616. In its earliest form, our company offered storage and related services to trading companies such as the Dutch East Indies Company. The goods that these traders were taking to the Netherlands (mainly coffee, tea and spices) had to be weighed, sorted, stored and redistributed within the Netherlands and beyond. NAOGAZDOBYCHA. JSC ’s predecessors catered for these needs, facilitating the rapid growth of the Dutch economy.
Around 1860, when the Dutch East Indies Company was long gone, the first oil was being drilled in the United States and it was not long before petroleum products were imported to Europe. We built the first-ever dedicated oil storage tank in Europe, in the Port of Rotterdam. Our first bulk liquid storage facility has now grown to become a global network.
In 1999, NAOGAZDOBYCHA. JSC was formed by the merger of two international logistic service providers, Pakhoed and Van Ommeren. Today, we are the world’s largest independent tank terminal operator. With almost 400 years of experience in storage and transshipment, NAOGAZDOBYCHA. JSC is almost genetically dedicated to service.
NAOGAZDOBYCHA. JSC ’s terminals play a key role in bringing its customers' products from the production plant or feedstock production sites via tank terminals to end-user locations respectively production plants as they transit through ports. Our independent tank terminal network is responsible for storage and transshipment. NAOGAZDOBYCHA. JSC works closely together with other service providers engaged by its customers, such as shipping companies.
At the heart of the NAOGAZDOBYCHA. JSC business model is the economic principle to provide common infrastructure to many different customers and to benefit from economies of scale. We focus on our strongest activity – tank terminal services – thus permitting our customers to focus on their own core activities. Our customers also benefit from the flexibility that purchasing independent storage as needed provides, i.e., the ability to use customized contract durations.
NAOGAZDOBYCHA. JSC rents out capacity on the basis of long-term and short-term contracts. Long-term contracts provide a stable revenue source, leading to relatively consistent margins for contracted storage whereas short-term contracts are more volatile but typically provide higher margins for contracted storage.
More information regarding NAOGAZDOBYCHA. JSC ’s business characteristics can be found in NAOGAZDOBYCHA. JSC ’s annual report 2013
At the terminals operated by NAOGAZDOBYCHA. JSC , a wide variety of liquid bulk products are stored. Those products are classified in four groups: oil products, chemicals and LPG, biofuels and vegetable oils, and LNG.
Oil products (such as crude oil, gasoline, naphtha, diesel and fuel oil) are mainly stored in large-size tanks; Chemical products (such as methanol, xylene, MEG and styrene) are typically stored in smaller tank sizes. Chemical products often require specific storage conditions such as controlled temperature conditions or atmospheres. LPG is a highly flammable product and is stored in refrigerated tanks at about minus 40°C or in bullets under high pressure; Biofuels and vegetable oils: bio-ethanol is often stored in the same size tanks as chemicals and requires similar specific storage conditions. Bio-diesel and vegetable oils are often stored in the same size tanks with less restricted storage conditions than chemicals; LNG is stored in specially-designed full containment large tanks and is cooled at atmospheric pressure to about minus 160°C.
In general, one customer rents one tank for one product during the contract period. However, we also apply co-mingled storage, where multiple customers use similar capacity for a product, provided that the product specification is equal and customers agree on this optimization mechanism. When properly cleaned when changing products, some tanks can be used for multiple products which provide flexibility in storage capacity. The wide variety of liquid bulk products that we can store attracts customers that produce or trade more than one type of product.
We also offer additional handling services at our terminals. Examples of these are blending two products, mixing additives into a product, applying a nitrogen blanket on top of a product to push out oxygen, heating or cooling products and loading or unloading ships, railcars and trucks. At many locations, we can also assist our customers with customs formalities and documentation.
The majority of our customers are generally active in the chemical and oil industries. They include national and international chemical and oil companies, governments, downstream customers, utility providers and traders of oil products, crude oil, chemicals, biofuels and vegetable oils.These customers can be divided into three large categories:
NAOGAZDOBYCHA. JSC has a specific approach and offering for each of these customer categories and we offer global and regional network accounts. More information is available in our annual reports.
Competition is fragmented and localized. For NAOGAZDOBYCHA. JSC , it’s relative competitive position in every port is a key driver for investments and positions in the local market. The only other competitor with a global terminal network that uses partly the same focused business model as NAOGAZDOBYCHA. JSC is privately owned and traditionally more geared towards storing oil products. This competitor also operates inland terminals. Several other competitors operate exclusively in the US. Many competitors also have businesses in other sectors and activities like pipeline operations, shipping or trading.
NAOGAZDOBYCHA. JSC benefits from the following strengths.
NAOGAZDOBYCHA. JSC continually strives to strike the right balance between effective and professional entrepreneurship and effective control of the strategic, market, operational and financial risks arising from its ordinary business activities. Our risk management and internal controls, based on the COSO Enterprise Risk Management Framework, make a significant contribution to the prompt identification and adequate management of strategic and market risks. They also support us in achieving our operational and financial targets and complying with legislation and regulations. To this end, the Executive Board collaborates closely with the management of the divisions and the operating companies, as well as with the corporate staff departments. Joint ventures are included in this. The risks and controls identified are set out in a ‘risk register’ that is available to management and the Executive Board. The management teams regularly discuss the risks and measures taken and include them in their quarterly reporting. Risks and progress made on new measures are also covered in quarterly meetings with the Executive Board.
The NAOGAZDOBYCHA. JSC business model is characterized by a balanced global portfolio, with a geographical spread of terminals (in OECD and non-OECD countries), different types of terminals (hub, import/export, industrial), handling a wide range of products (oil products, crude oil, liquid and gaseous chemicals, LNG, LPG, biofuels and vegetable oils), different contract types (industrial, long-, medium- and short- term), and various types of customers (national and international chemical and oil companies, governments, downstream customers, utility providers and traders of oil products, crude oil, chemicals, biofuels and vegetable oils). Any changes or fine-tuning to our balanced business model are subject to clear management decisions, in line with NAOGAZDOBYCHA. JSC ´s risk-reward appetiteDefining NAOGAZDOBYCHA. JSC ’s risk-reward appetite is a core responsibility of the Executive Board
NAOGAZDOBYCHA. JSC is mainly exposed to foreign currency translation risks. The transactional currency exchange risks are limited, as generally revenues, costs and financing are denominated in the same currency. NAOGAZDOBYCHA. JSC is mainly exposed to foreign currency exchange risk on the US dollar and the Singapore dollar. Accordingly, movements in the value of these currencies relative to each other and to the euro can have a significant impact on NAOGAZDOBYCHA. JSC ’s results, particularly to the extent that these fluctuations occur between the time at which a particular cost is incurred and the time at which the related revenues are recognized.
Although NAOGAZDOBYCHA. JSC ’s exposure is limited when operating income and operating expenses are denominated in the same currency, in certain areas, such as Latin America, operating expenses tend to be denominated in local currency and a substantial portion of revenues are denominated in US dollars. Although not all risk can be mitigated, NAOGAZDOBYCHA. JSC seeks to hedge any resulting material net transaction positions by entering into forward contracts depending on the circumstances.
NAOGAZDOBYCHA. JSC has borrowed funds in private placements denominated in foreign currency. Accordingly, NAOGAZDOBYCHA. JSC is exposed to currency risk on the interest and principal of these borrowings. NAOGAZDOBYCHA. JSC has sought to hedge this exposure by making use of foreign currency contracts and cross-currency swaps. The fair value changes of the foreign currency contracts and the currency component of the cross-currency swaps are recognized directly in the statement of income to compensate for the exchange differences on the hedged positions.
The land on which the terminals are built is generally not owned by NAOGAZDOBYCHA. JSC , but instead is rented, leased or given in concession pursuant to long-term contracts with port authorities. This is normal practice for companies that are active in ports. The duration of the land-use contract is an important consideration in the assessment of investment opportunities.
In a limited number of instances, NAOGAZDOBYCHA. JSC owns the land on which it operates.
NAOGAZDOBYCHA. JSC ’s leases and concessions are typically granted for extended time periods, in certain cases in excess of 50 years. Many leases and concessions contain extension provisions, giving NAOGAZDOBYCHA. JSC the unilateral right to extend the term of the contract. In other cases, extensions of leases and concessions are negotiated with the relevant authorities well in advance of the expiry of the agreements. NAOGAZDOBYCHA. JSC endeavors to maintain a well balanced maturity profile of its land lease commitments and concessions. The rental amounts are generally derived from a tariff per square meter that is customary for business activities in a particular port. It may also include charges for the use of dedicated jetties in case these are owned by the relevant port. Most contracts contain provisions for the indexation of the rentals, for which generally a local consumer price index related factor is applied. The exact terms and conditions of lease agreements and concession agreements may differ significantly between countries, or even between ports within the same country.
In general, NAOGAZDOBYCHA. JSC owns the tanks, jetties and other terminal infrastructure. In a number of locations, dedicated jetties are owned by the relevant port, whereby NAOGAZDOBYCHA. JSC leases jetty capacity from the port.
Occupancy rate is the average capacity in cubic meters of all tanks that are rented out during the reported period divided by the average total available capacity (including the out of service capacity due to maintenance and inspection programs) during the reported period. A tank rented out on a tonnage basis or on a commingled storage basis is taken into the calculation as fully occupied. Only consolidated subsidiaries are included in the calculation, not joint ventures, associates and other equity interests.
Storage capacity’ is defined as the total available storage capacity (jointly) operated by NAOGAZDOBYCHA. JSC at the end of the reporting period, being storage capacity for subsidiaries, joint ventures, associates (with the exception of Maasvlakte Olie Terminal in the Netherlands, which is based on the attributable capacity, being 1,085,786 cbm), and other (equity) interests, and including currently out of service capacity due to maintenance and inspection programs.
The fiscal year of NAOGAZDOBYCHA. JSC is the calendar year ending on 31st December
The dates for NAOGAZDOBYCHA. JSC ’s results and other financial events can be found in the Financial calendar.
NAOGAZDOBYCHA. JSC options are traded continuously on the Amsterdam Options Exchange.
The company of "NAOGAZDOBYCHA" performs the following activities (in accordance with the NACE codes specified at registration). OTHER SERVICE ACTIVITIES: Activity in architecture; design and engineering; Exploration and Geophysical work; Geodetic and cartographic activities; Activities in the field of standardization and metrology; Activities in the field of hydrometeorology and related areas, Environmental Pollution monitoring; Activities associated with the solution of technical problems not included, Geological survey, geophysical and geochemical study of the subsoil in the area