Aggregate revenue of Russia’s 15 largest shipping companies – RUB 30 bln, profitability – 5-10%

According to the report of the military and industry committee under RF Government, aggregate revenue of Russia’s 15 largest shipping companies is RUB 30 bln with profitability of 5-10%. The report was presented at the All-Russia Forum “Shipbuilding and Shipping in Russia: new solutions and economic efficiency” being held in Moscow. 

The report says, that typical revenue of a large shipping company is RUB 1 bln per year. 

Shipping companies can allocate no more than RUB 1.5-3 bln per year for fleet renovation while a dry cargo carrier or a tanker with deadweight of 5,000-7,000 t costs RUB 400-600 mln. The majority of Russian shipping companies have neither own funds enough no the ability to attract credit resources for new vessels, the report says.