By John Helmer, Moscow In bringing to a close yesterday six years of investigation and litigation, and more than $800 million worth claims by state shipping company Sovcomflot, Justice Andrew Smith of the UK High Court has issued two batches of rulings, totaling 478 pages of findings of fact and judgements of law. Together, they […]

by John Helmer - Friday, March 25th, 2011
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By John Helmer, Moscow A second judgement of the UK High Court, issued this morning by Justice Andrew Smith, has condemned Sovcomflot and dismissed a second round of claims, which the state-owned Russian shipping company argued over three days of hearings last month. The new ruling, issued in two parts, vindicates for the second time […]

by John Helmer - Thursday, March 24th, 2011
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By John Helmer, Moscow Following the Fukushima disaster in Japan early this month, Russian government safety checks of all operating and experimental reactors have triggered skepticism that the experimental floating nuclear reactor vessel, Academician Lomonosov (right image), will be commissioned shortly, then towed to the Sea of Okhotsk, off the Kamchatka peninsula. Prime Minister Vladimir […]

by John Helmer - Wednesday, March 23rd, 2011
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By John Helmer, Moscow In a three-day hearing in the UK High Court, which wound up on Monday of this week, Russian state shipping company Sovcomflot faced cost, indemnity and compensation claims for an estimated $180 million, filed by Yury Nikitin, Dmitry Skarga (right image), and Tagir Izmailov. They were the three defendants in the […]

by John Helmer - Wednesday, March 2nd, 2011
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By John Helmer, Moscow Sergei Generalov, controlling shareholder of Far Eastern Shipping Company (Fesco), lifted the lid yesterday off an intensifying contest among Russia’s transport moguls to redivide the state’s rail, box terminal and shipping concessions. These will be awarded before the presidential election in a year’s time by Deputy Prime Minister Igor Sechin.

by John Helmer - Tuesday, March 1st, 2011
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By John Helmer, Moscow The 421-page ruling of UK High Court Justice Andrew Smith, issued on Friday in London, dismisses all charges and claims pursued for the past five years against Dmitry Skarga, former chief executive of Sovcomflot, and Tagir Izmaylov, his counterpart at Novorossiysk Shipping Company (Novoship). The consequences are dramatic for the Russian […]

by John Helmer - Monday, December 13th, 2010
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By John Helmer, Moscow The UK High Court ruled this morning in London that the half-billion dollar fraud claim pursued by state shipping company Sovcomflot and its chief executive Sergei Frank was based on fabrications and lies. Frank was condemned in the ruling, and his witnesses dismissed as dishonest. Former Sovcomflot chief executive Dmitry Skarga […]

by John Helmer - Friday, December 10th, 2010
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By John Helmer, Moscow After announcing early in the week that 50% of Sovcomflot’s shares will be sold over the next two years, between 2011 and 2013, government officials today refused to tell Fairplay what valuation the government has put on the shipping company, and how much cash the sell-off has been targeted to raise.

by John Helmer - Friday, November 26th, 2010
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By John Helmer, Moscow Sergei Generalov has once again proved to be the federal Transport Ministry’s Ninja, leaping out of his staid business-suit and spectacle disguise to toss his grappling-hook, and rescue the privatization of state-owned rail transport company, Transcontainer.

by John Helmer - Wednesday, November 10th, 2010
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By John Helmer in Moscow Far Eastern Shipping Company (Fesco), which in Soviet days dominated dry-cargo shipping, has reported another loss in the first half of this year. What makes this news is that the red-ink line came in at $28.1 million; one-quarter of the loss reported for the six months to 2009 at $124.1 […]

by John Helmer - Thursday, October 21st, 2010
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