Email This Post - Print This Post Print This Post

By John Helmer in Moscow An application by three of Russia’s most powerful steelmakers to have the government impose penalty duties on imports of coated steel, primarily from China, has failed. This is the first sign from the Kremlin that applications by Russian steelmakers that threaten political and trade relations with Beijing, and risk Chinese [...]

Email This Post - Print This Post Print This Post

  Marshal Sergei Fyodorovich Akhromeyev   “Everything I have worked for throughout my life is being destroyed.”   – August 24, 1991

Email This Post - Print This Post Print This Post

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 [...]

Email This Post - Print This Post Print This Post

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 [...]

Email This Post - Print This Post Print This Post

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% [...]

Email This Post - Print This Post Print This Post

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 [...]

Email This Post - Print This Post Print This Post

Email This Post - Print This Post Print This Post

Email This Post - Print This Post Print This Post

By John Helmer in Moscow “Mr Deripaska is a man who denies everything”. This was said in the Court of Appeal in London on July 21, by Geoffrey Vos QC, arguing the case on behalf of Deripaska’s former patron and founding stakeholder, Michael Cherney (Mikhail Chernoy), that Deripaska should face trial in England on Cherney’s [...]