JSC Murmansk Shipping Company (MSCO, MMP) objected to the expected increase of rates for icebreaking support, the shipping company's executive said in St. Petersburg at the IV International Forum "The Arctic: Present and Future".
Vladimir Dmitriev, GM of the Murmansk Shipping Co.'s branch office in St. Petesburg criticized the tariffs hike as it will affect the cost of freight and together with the lack of low-cost long-term loans impairs development opportunities.
At the same time, the shipping operator's official assured that the Company intends to execute all contracts for delivery of cargo to Russia's Arctic regions though the operation on the European direction would be more profitable.
JSC Murmansk Shipping Company is an integrated corporate structure, which comprises the fleet of three Russian operators: JSC Murmansk Shipping Company, JSC Northern Shipping Company, JSC Northern River Shipping Company with a total deadweight of about 2 million tonnes. The share of the Russian Federation in the authorized capital of MMP is 25.5%. LLC Arctic Technology holds 62.7% of shares. The authorized capital is RUB 943,454 (ordinary shares in uncertificated form). The nominal value of a share is RUB 1.0. The Company's staff was 1374 people as of 18 June 2013.
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