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According to information from an open source, the company "Eurasia Logistics," engaged in logistics, has acquired a grain terminal in the city of Taganrog, located on the coast of the Sea of Azov. According to market participants, the previous owner of the terminal, Alexander Rappoport, is selling his assets to exit the grain business. The new owner will have to develop grain trading in order to recoup their costs.
The transshipment complex in the port of Taganrog, which belonged to LLC "Taganrog Grain Terminal" (TGT) and LLC TSRZ, is now owned by the company "Eurasia Logistics." According to the Unified State Register of Legal Entities (EGRUL) data, TGT was founded in 2010 and has revenues of 48 million rubles ($562 thousand) for 2023. TSRZ's revenue was 347.6 million rubles ($4.1 million), with a net profit of 64 million rubles ($749 thousand).
The company "Eurasia Logistics," founded in 2022 by Ilya Zhelnov, specializes in transporting grain cargoes using grain wagons. In 2023, its revenue was 352.4 million rubles ($4.1 million), with a net profit of 110.1 million rubles ($1.3 million).
The purchase of the terminal is a necessary step for the development of Ilya Zhelnov's transportation assets. Previously, Rappoport discussed the sale of the terminal with the company "Russian Funds."
Ilya Shumov, an investment banker, evaluates the deal value taking into account the debt at 3.5 billion rubles ($41 million). If "Eurasia Logistics" can maintain the export volumes present at the acquired terminal, by the end of the agricultural season 2024/25, it may enter the top ten largest grain exporters, predicts an expert. Andrey Sizov, the director of the company "Sovekon," notes that the terminal will not provide significant advantages, although integrated transportation may be successful. Dmitry Rylko points out that there are more than 30 export terminals in the Azov region, and new players are emerging constantly. Sizov also adds that engaging in grain trading will be challenging due to consolidation in this segment.
Eduard Zernin explains that grain terminals in shallow water areas are limited in ship tonnage due to the shallow waters of the Sea of Azov. The main direction of exports from such terminals is to Turkey, which has temporarily suspended wheat imports.
