In the first quarter of 2009, net loss of North-Western Shipping Company OJSC fell 4.8 times to RUR 211.887 mln, the company officially states.
In the reported period, the company’s earnings totaled RUR 528.069 mln, gross loss - RUR 54.813 mln.
According to the company, the loss grew because of freight market fall.
North Western Shipping Company is Russia’s largest carrier specializing in transportation of loose and bulk cargo with batches from 1,000 to 5,000 tonnes. Cargo transportation is carried out by 133 motor vessels including 68 vessels owned by the company and 36 chartered from Volga Shipping. The company carries 6.6 million tonnes of cargo per year. North Western Shipping Company is a part of Independent Transport Company. In 2008, NWSC vessels carried 5.122 million tonnes of cargo including 4.157 million tonnes of foreign trade cargo.