TOAZ SOLVED THE SITUATION IN THE TURKISH STRAITS
Togliattiazot PJSC, Russia’ s largest ammonia producer, has provided uninterrupted supplies of ammonia to end users in 1Q2019. Reduction in time for ammonia carrier passage through the Turkish Straits has enabled fulfillment of company obligations without delay.
On September 11, 2018 the Turkish government introduced new rules for navigating in Bosporus and Dardanelles Straits. According to new safety requirements, gas carriers over 150 meters must pass the Turkish Straits only during daylight hours and only accompanied by tugs. Thus, time of passage through the Straits for each carrier per voyage has increased to two or three weeks.
In order to get permission from the Turkish authorities to pass through the Straits in the dark, Togliattiazot addressed and negotiated with the Consulate General of the Russian Federation in Turkey together with the representatives of the Turkish Chamber of Shipping and Vessel Traffic Service in Istanbul.
‘A proactive stance of Togliattiazot helped to manage the situation. Within the first quarter this has enabled our company to reduce fuel consumption for the ships, as well as general costs related to the Dardanelles Strait passage by 9% relative to the budget, increase cargo turnover of the fleet and honour our commitments to the customers in due time,’ underlined Vladislav Pustynnikov, Deputy General Director, Director of Commerce of Togliattiazot Corporation PJSC.
PJSC TOAZ has published its financial performance figures for the 1st half of 2020.
PJSC TOAZ has received a letter from the lawyers of its majority shareholders informing of the decisions that the High Court of Ireland had taken within the case that involved PJSC TOAZ shareholders and is being heard by the Court. In order to inform the public, we publish the bullet points from the letter.
TOAZ PJSC continues construction of the third urea plant, constituting one of the key investment projects of the Russian chemical industry.