Net loss of Volga Shipping up 65% to RUR 168.9 mln in Q1 09

In the first quarter of 2009, net loss of Volga Shipping OJSC (Nizhni Novgorod) increased by 65.1% to RUR 168.858 mln, the company reports.
Earnings of Volga Shipping fell 5.15 times up to RUR 53.765 mln.
Volga Shipping (Volga-Fleet OJSC) was established in 1843. It is one of Russia’s largest shipping companies specializing in cargo and passenger transportation by rivers and lakes of the country. The company’s fleet numbers some 250 passenger and cargo sea-and-river going vessels. In 2008, Volga-Fleet vessels carried 6.9 million tonnes of cargo (-1.4%, year-on-year).