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By John Helmer in Moscow The Far Eastern Shipping Company (Fesco), owned by Sergei Generalov, is likely to run a loss of at least $72 million this year, before foreign exchange losses and writedowns are counted, according to a new report on the company issued today by Moscow investment bank, Renaissance Capital. With total debt […]

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By John Helmer in Moscow Novorossiysk Commercial Seaport Company (NCSP is the London ticker), the only internationally listed Russian port, crashed Friday [August 7] by almost 6% in Moscow stock market trading, despite a stable report and ratings confirmation from Standard & Poors. S&P’s August 6 report said that continuing growth of Russia’s seaborne trade […]

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By John Helmer in Moscow Far Eastern Shipping Company (Fesco), Russia’s fleet leader for dry cargo and containers, is headed for an even bigger year-end loss than industry analysts or the company have acknowledged before. A new report, issued on August 7 by Moscow investment bank Renaissance Capital, predicts that group revenues will fall 41% […]

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By John Helmer in Moscow The last time Russia was obliged to teach strategy to the ruling powers of the Baltic Sea — in the 18th century, they were the Swedes – at the Battle of Grengam (pictured), the Russians claim they won. But so do the Swedes. The outcome, however, was that the Swedish […]