Aggregate revenue of Russia’s 15 largest shipping companies – RUB 30 bln

According to the report of the military and industry committee under RF Government, aggregate revenue of Russia’s 15 largest shipping companies is RUB 30 bln with profitability of 5-10%. The report was presented at the All-Russia Forum “Shipbuilding and Shipping in Russia: new solutions and economic efficiency” being held in Moscow. 

The report says, that typical revenue of a large shipping company is RUB 1 bln per year. 

Shipping companies can allocate no more than RUB 1.5-3 bln per year for fleet renovation while a dry cargo carrier or a tanker with deadweight of 5,000-7,000 t costs RUB 400-600 mln. The majority of Russian shipping companies have neither own funds enough no the ability to attract credit resources for new vessels, the report says.

Adapted from Portnews