In the first quarter of 2009, net loss of Murmansk Shipping Company amounted to RUR 439.642 mln against RUR 139.471 mln of profit in the same period of the previous year, the company officially states.
In the reported period, the company’s earnings fell by 17.6% to RUR 1.527 bln. The company attributes the decrease to the consequences of the global financial crisis including considerable fall of freight rates and weakening of ruble against USD.
JSC Murmansk Shipping Company was founded in 1939 as a company specializing in Arctic transportation. JSC Murmansk Shipping Company is a highly integrated corporate structure. It includes fleet of three shipping companies: JSC Murmansk Shipping Company, JSC Northern Shipping Company, JSC Northern River Shipping Lines, their total deadweight is about 1.2 million tons (303 vessels).