Net loss of North Western Shipping Company OJSC (NWSC, Saint Petersburg) totaled RUR 18.676 million in the third quarter 2006, year-on-year, against RUR 37.123 million of profit in the similar period of 2005, the company reports according to RBC. The company’s 2Q06 net loss was RUR 87.286 (4.7 times as highas3Q06 net loss). The result of the reported period is attributed by company experts to seasonal raise of demand for the company’s services. In 2005, NWSC net profit under Russian Accounting Standard totaled RUR 16.934 million (-34.6% against result of 2004) proceeds – RUR 3.085 billion (41-fold growth), sales loss – RUR 284.771 million (4.2-fold growth). In 2005 the company’s transportation volume stayed at the level of 2004 – RUR 7.763 million.
North Western Shipping Company is one of Russia’s largest river and sea shipping companies specializing in transportation, transshipment and storage of cargo as well as in shipbuilding, shipreparing, cruise and sightseeing tourism and passenger transportation. The territory covered by the company’s activities include inland waterways of Russia’s European part, basins of the Baltic, North, Mediterranean, Black and Caspian seas. The company’s transport fleet consists of 220 vessels including 138 cargo vessels with total capacity of 416.346 thou tons and 33 passenger vessels. Annual cargo turnover of the company totals 9 million tons including 6 million tons of foreign trade cargo.All news