Net loss of North-Western Shipping Company (SZP, NWSCo) in the first quarter of 2012 according to Russian Accounting Standards (RAS) shrank by 31.2% compared to January-March 2011, to RUB 128.2 million, the carrier said.
The company’s revenue for the period decreased by 11.7% to RUB 588,039,000.
North-Western Shipping Company is the largest carrier in Russia’s water transport system, specializing in shipping import / export general cargo, bulk, suction and grab bulk cargoes, oversized cargo and vessels. The company’s fleet comprises about 105 cargo ships of total DWT 350,000 tons, including 83 mixed-sailing "river-sea” vessels, 8 barges, 8 tugs and 6 auxiliary ships. The NWS Company transports 6 million tons of different cargo a year. The Company is member of VBTH, a shipping division of UCL Holding, majority-owned by VBTH), consolidating a number of Russian rail, stevedoring and logistics assets. The division also includes Volga and Western Company, several cruise and shipbuilding companies.