OREANDA-NEWS. May 30, 2008. In 2007, net profit of Murmansk Shipping Company OJSC increased 2.6 times to RUR 760.2 million, the company’s Director General Aleksandr Medvedev told at the general meeting of shareholders held May 30, 2008. According to Medvedev, proceeds form the company’s core activities totaled RUR 7.1 billion, from fleet activities – RUR 5.6 billion, from other activities – RUR 1.5 billion. The volume of all cargoes transported by the company’s fleet in the reported period amounted to 7.365 million tonnes.

In 2007, Murmansk Shipping Company acquired two new vessels including the Pomorje bulk carrier and the Nadezhda tanker. The Pomorje is the ice class vessel designed for transportation of different bulk and general cargo. The vessel’s deadweight is 23,600 tonnes. It is registered with the Russian International Register of Vessels, meets modern safety requirements.

One of the perspective activities of Murmansk Shipping Company is the expansion of its participation in transportation of hydrocarbons hence the company’s program for acquisition of Suezmax tankers. The Nadezhda is the second SUEZMAX tanker of Murmansk Shipping Company to fly the flag of Russia. By January 2008, the tanker was upgraded and fitted with systems necessary to meet international requirements. The tanker was classed as РМРС/DNV by Russian International Register of Shipping and Det Norske Veritas).

In the mid-term outlook the company plans to increase transportation in the Arctic region in relation to the development of infrastructure of oil-and-gas field development in the Barents Sea and at Yamal peninsular. Within the framework of these activities the company considers improvement of cargo deliveries to unimproved port facilities. The company is to raise the carrying capacity of 2 transport vessels, build 12 30,000-dwt bulk carriers of 1В ice class; purchase or construction of 2 150,000-swt tankers.

The shareholders also decided to pay dividends to the amount of RUR 13.77 per one ordinary share (with nominal value of RUR 1 each), approved the company’s financial results, elected new BOD and Audit Commission.
Murmansk Shipping Company OJSC comprises the fleet of three Russian shipping companies covering considerable part of cargo transportation by vessels flying Russian flag: Murmansk Shipping Company OJSC, Northern Shipping Company OJSC and Northern River Shipping Company OJSC. The company’s fleet numbers 305 vessels with total deadweight of some 2.0 million tonnes. In 2007 the company carried 8.055 million tonnes of cargo.