In January-September 2008, net profit of JSC Novorossiysk Shipping Company (Novoship) amounted to $235 million (+27%, year-on-year), the company reports.
Novoship proceeds from the fleet operation grew by 24.9%, year-on-year, to $577 million.
As of September 30, 2008, the company’s fleet comprised 58 vessels with total deadweight of 4.029 million tonnes and average age of 7.2 years. 98% of the fleet tonnage is tankers with average age of 6.4 years.
In the reported period, the company sold 5 vessels with the age exceeding 20 y. o. Novoship put into operation two modern vessels: aframax NS Lotus tanker and NS Point product carrier. As of the end of the third quarter the Company's newbuildings portfolio includes 15 vessels with total deadweight of 1.45 million tonnes due before the end of 2010.
The company’s share in the aggregate freight of Russian companies grew by one third, year-on-year, to 20%.
Sovcomflot Group is Russia’s largest shipping company. Its fleet is amongst the five leading tanker companies in the world and comprises 132 vessels with a total deadweight (dwt) of 9.4 million tonnes. The Group’s current backlog of orders numbers 28 vessels with total deadweight of 2.8 million tonnes. The average age of vessel in the tanker fleet is about six years (the world average age is 12 years). Sovcomflot Group specialises in seaborne energy transportation. It owns the world’s largest ice fleet and holds the top position in the product carrier, Aframax tanker and Arctic shuttle-tanker market segments, and is the leading ice-class tanker operator for the transportation of liquefied natural gas (LNG). These market segments are the most in demand for Russia’s foreign trade and its oil and gas companies.