Net profit of Murmansk Shipping Company down by 43.8% to RUR 417.8 mln in Jan-Sep 08

In January-September, 2008, net profit of Murmansk Shipping Company OJSC amounted to RUR 417.852 million (-43.8%, year-on-year). In the reported period, the port’s revenue totaled RUR 6.026.059 billion (+14.7%), gross profit – RUR 956.753 million (-20.3%).

Murmansk Shipping Company was incorporated in 1993. Among the services provided by Russian ship owners the company accounts for 40% of cargo transportation by Russian flag vessels. Murmansk Shipping Company OJSC comprises the fleets of three Russian shipping companies: Murmansk Shipping Company OJSC, North Shipping Company OJSC and North River Shipping Company OJSC with total deadweight of about 1.2 million tonnes. Murmansk Shipping Company OJSC accounts for up to 80% of cargo traffic at the Northern sea route.

Source: Portnews