July 9 the Nineth Moscow Arbitrage Court of Appeal approved the settlement agreement between the Russian Federal Anti-trust Service (FAS) and Container Terminal Saint-Petersburg, part of UCL Holing, in an anti-trust dispute.
A year ago the Anti-trust Service found Container Terminal Saint-Petersburg to be in breach of the anti-trust legislation in relation to the pricing of stevedoring services for handling containers.
In May this year, the Antimonopoly Service imported a fine of 91.2 mn rubles on the company.
Now the parties say the Anti-trust Service has agreed that the commercial polices of Container Terminal Saint-Petersburg provide for economically sound tariffs for handling containers and that the growth in tariffs was due to the drastic change in the USD exchange rate.
Container Terminal Saint-Petersburg has submitted its plan for denominating tariffs in rubles and committed to increase the share of ruble-denominated earnings in 2018.