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2010 April 26   07:49

Cyprus-flagged fishing boats to start flying Russian flag this May

27 fishing boats built on a security of the Russian Govt. and currently registered in Cyprus, might start flying under the Russian flag this May, Andrew Krainiy, the head of RosRybolovstvo said in an interview with RIA Novosti.

According to Mr. Krainiy, the boats will be registered in the RosRybolovstvo after all debt issues are resolved with VneshEconomBank and other necessary procedures are completed to turn over the ships to the Russian companies.

News agencies had reported over situation with the Cyprus-flagged offshore fishing boats docked at Kamchatka and Sakhalin regional ports not allowed to catch fish products in the Russian territorial waters according to the new Russian legislation. The boats crews who had been waiting for almost a year staying without work began hunger strike. The things started moving when Vladimir had ordered to turn over the offshore vessels to Russian companies.

The vessels construction began back in 90-ies on a security of Russian Govt. and under a loan from KFW Bank, of Germany. In 2001 VneshEconomBank acquired the debt from the Germany’s bank, but since then neither Bering Trawler Ltd and Okhodsk Fishing (Cyprus) nor Kamchatka-Vostok, AKROS, the Russian companies who chartered the ships have transferred payments to VneshEconomBank.

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