Net loss of Novorossiysk Shipping Company OJSC (Novoship OJSC is a part of Sovcomflot Group) amounted to RUR5.863 mln in Q I-III, 2009 under RAS against profit of RUR732.686 mln in 2008, as of accounting report data of the enterprise. Company’s income decreased by 2% (RUR931.616 mln) within the reporting period against the corresponding period of 2008.
Novoship OJSC loss as of 9-month period of 2009 results is caused by share fraction payment of preferred shares of an emitter bought out by the company before, as of the company’s information. Income on sale of goods, works and services reduced due to freight market conditions (freight rates reduction) and to the decrease of average number of vessels in operation because of old tonnage sale at the market.
It is necessary to remind that net profit of Novoship OJSC increased by 2.2 times (to RUR995.263 mln) first half of 2009 against the corresponding period of 2008.
Novorossiysk Shipping Company is one of the largest shipping companies in Russia in the Black Sea. There are 53 modern vessels in the company’s fleet of overall deadweight of 4.14 mln tons. Average age of the company’s tanker fleet is 6.3 years.
Novoship OJSC loss as of 9-month period of 2009 results is caused by share fraction payment of preferred shares of an emitter bought out by the company before, as of the company’s information. Income on sale of goods, works and services reduced due to freight market conditions (freight rates reduction) and to the decrease of average number of vessels in operation because of old tonnage sale at the market.
It is necessary to remind that net profit of Novoship OJSC increased by 2.2 times (to RUR995.263 mln) first half of 2009 against the corresponding period of 2008.
Novorossiysk Shipping Company is one of the largest shipping companies in Russia in the Black Sea. There are 53 modern vessels in the company’s fleet of overall deadweight of 4.14 mln tons. Average age of the company’s tanker fleet is 6.3 years.