In the first quarter of 2009, net profit of Joint Stock Company Novorossiysk Shipping Company (Novoship) increased 2.9 times to RUR 269.777 mln, the company officially states.
In the reported period, the company’s earnings increased by 20%, year-on-year, to RUR 363.009 mln.
Today Novoship owns and operates 51 modern vessels aggregating 3.93 million deadweight tons. Novoship has one of the youngest tanker fleets in the industry – the vessels are 6,3 years old on average. The current market value of the fleet is around USD 3.19 billion. The Company's newbuildings portfolio includes 13 vessels with total deadweight of 1.3 million tons due before the end of 2010. The company’s authorized capital totals RUR 501.121 mln divided into 375,840,500 ordinary and 125,280,000 preferred shares with nominal value of RUR 1 each. As of today, Sovcomflot and affiliated entities own 98.2% of Novoship's voting shares.
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