Over 32% of all Russian shipbuilding contracts to transfer to leasing basis by 2011 - expert
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By 2011, at least 32% of total shipbuilding orders within the backlog of Russian companies are likely to be transferred to a leasing basis according to the Strategy for Development of Shipbuilding Industry till 2020 and Later, PortNews IAA learnt from Arseni Brykin, head of Economics and Forecast subdivision, Department of Shipbuilding Industry and Marine Equipment, RF Ministry of Industry and Trade, at the meeting within the framework of a seminar “On construction of inland water transport at Russian shipyards based on private-public partnership”. According to Arseni Brykin, RF Minister of Industry and Trade Viktor Khristenko is likely to sign documents on transfer of RUR 1.8 bln from state budget to the authorized capital of United Shipbuilding Corporation for lease payment for vessel construction. Nowadays, USC holds negotiations with different banks and existing leasing companies for development of an efficient leasing system. Mr. Brykin dos not rule out that VEB-Leasing (subsidiary of state corporation VneshEconomBank) will become the leasing company. At the same time, “determination of a leasing company and financing procedure is to be coordinated with the state position. There is no final decision yet,” Mr. Brykin noted. According to him, federal budget allocates RUR 2.5 bln for USC leasing projects in 2009 and RUR 4 bln in 2010. As for reserves planned by the state for compensation of shipowners’ interest for loans provided by Russian banks for construction of vessels at Russian shipyards: in 2009 – RUR 460 mln, in 2010 – RUR 180 mln, in 2011 – RUR 233 mln.
USC hopes the measures undertaken by the state to foster construction of sea-and-river going vessels at Russian shipyards will make it possible to decrease the value of vessels and to cut payback period. However, only few Russian shipyards are able today to build low-tonnage vessels in a relatively short time at competitive prices, USC says. Within USC the only shipyard from this list is Krasnoye Sormovo.