North Western Fleet 3Q06 net profit up 21.3% to RUR 23.3 million

Net profit of North Western Fleet OJSC (NWF – part of North Western Shipping Company, Saint Petersburg) grew in the third quarter 2006 by 21.3% year-on-year to RUR 23.3 million, the company reports according to RBC. The company’s 2Q06 net profit totaled RUR 18.346 million. The result of the reported period is attributed to seasonal fluctuation of the demand for transportation of cargo by NWF vessels. NWF shipping company carries out both export-and-import cargo transportation and transportation of cargo by inland waterways of Russia. The company operates 120 river-and-sea going vessels, tug fleet and auxiliary fleet. The company’s annual transportation is about 6 million tons of cargo.