Sovcomflot Registers 23.1% Fall In Net Profit
News: Russia-based shipping company Sovcomflot registered a 23.1% year-on-year (y-o-y) fall in net profit to RUB1.056bn (US$33.9mn) in 2012. The calculation was done as per the Russian Accounting Standard. The company also recorded a 14.1% y-o-y decline in revenue to RUB2.003bn (US$64.3mn) in 2012. The company has emerged as the largest shipping company in Russia as well as one of the world's leading shipping companies. The company's fleet comprises a total of 156 vessels with approximately 12mn tonnes of combined deadweight tonnage.