Favorable wind for Sovcomflot
Russia’s largest shipping company Sovcomflot in course of the last five years tripled its fleet’s total deadweight and quintupled its market value. Next summer the company will start a pilot project on cargo transport eastwards along the Northern Sea Route.
In a meeting with Russian Prime Minister Vladimir Putin in the end of December General Director of Sovcomflot Sergey Frank reported that the period 2005-2009 turned out to be successful for the shipping company, a press release from Sovcomflot reads.
Sovcomflot tripled the total deadweight of its fleet in the period 2005-2009. It now operates 147 vessels with a total deadweight of 10.400 million tons. The average age of the company’s vessels shrunk from 7.5 to 6 years. This is one of the best figures in the world, according to the press release. The shipping company quintupled its market value in the period.
Mr. Frank informed the Prime Minister about the company’s plans for the coming five year period. In 2010 Sovcomflot will start a pilot project in cooperation with Atomflot on cargo transport eastwards along the Northern Sea Route. This project will be conducted in cooperation with oil and gas companies with interests in the markets in Asia and the Pacific region.