By John Helmer in Moscow The largest oil concession in the world is changing direction as Glencore may be losing out in Russia again. Announcements last week from Prime Minister Vladimir Putin indicate that the movement of Russian oil for export is now to be supervised by Putin’s former chief Kremlin aide, Igor Sechin, who […]

by John Helmer - Tuesday, May 20th, 2008
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By John Helmer in Moscow Putin names his merry men, no change in the forest The list of the new Russian government ministers, released by Prime Minister Vladimir Putin this afternoon, preserves most senior officials in their place, and keeps the precarious balance of factions, which compete for and decide Russia’s major resource concessions, and […]

by John Helmer - Monday, May 12th, 2008
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By John Helmer in Moscow The Novorossiysk Shipping Company (Novoship) disappointed Moscow maritime analysts and the stock market today with FY 2007 financial results, just issued. Reported revenues totaled $615.3 million, 10% above the 2006 figure, but below consensus estimates and projections by transport analysts at Renaissance Capital and Finam. Net profit was reported at […]

by John Helmer - Thursday, April 24th, 2008
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By John Helmer in Moscow State-owned maritime fleet leader Sovcomflot is making a last-ditch bid to reap value for its bonus-holders before the Russian presidential election on March 2. But the lack of time isn’t the only catch. Sovcomflot ‘s bid to buy out minority shareholders of Novorossiysk Shipping Company (Novoship) has been rejected by […]

by John Helmer - Thursday, January 17th, 2008
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By John Helmer in Moscow President Vladimir Putin signed this week a decree allowing a limited association of Russia’s state controlled shipping companies, Sovcomflot and Novorossiysk Shipping Company (Novoship). Promoted as a merger of the two, Putin’s brief decree, a text of which has been released publicly, puts a stop to a market selloff, which […]

by John Helmer - Thursday, June 21st, 2007
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By John Helmer in Moscow Morgan Stanley has taken the plunge for its first-ever public investor offer of loan notes on behalf of a Russian maritime business — the Novorossiysk Commercial Sea Port. The bank is also touting for business as financial advisor to a possible initial public offering of shares for Russia’s two state […]

by John Helmer - Monday, May 21st, 2007
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By John Helmer in Moscow Limits on the transfer of shares between Russia’s state-controlled tanker companies, Novorossiysk Shipping Company (Novoship) and Sovcomflot, will fall short of the ambition of Sergei Frank, former Transport Minister and chief executive of Sovcomflot for two years. An international IPO of what may be, potentially, the third largest oil tanker […]

by John Helmer - Saturday, February 10th, 2007
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It’s stupid to shoot the messenger. That’s a message the billion-dollar Russian corporate public-relations industry fails to understand because it pays so often, and so lavishly, for distorting the truth, it can’t believe there isn’t a rival or a hostile commercial plot at work when the unvarnished truth slips out unexpectedly. Take, for example, Russia’s […]

by John Helmer - Saturday, March 22nd, 2003
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