By John Helmer, Moscow The Russian government has forced the chief executive of the state-owned United Shipbuilding Corporation (USC) to resign. Andrei Dyachkov, who was appointed to run the shipyard holding in June of last year, signed a letter of resignation on April 30, and then took sick leave. He is reportedly in hospital for […]

by John Helmer - Tuesday, May 7th, 2013
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By John Helmer, Moscow Though their meaning and intent are identical, crocodiles are better known for their tears than for their smiles. So are Russian officials. Take Igor Shuvalov, the first deputy prime minister, for example. When the chief executive of one of the largest mining companies in the world came to Moscow, a member […]

by John Helmer - Friday, April 5th, 2013
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By John Helmer, Moscow President Vladimir Putin will raise with African leaders this week the case of the Myre Seadiver and its 15-man Russian crew, who were arrested and imprisoned in Nigeria last October. The story so far. Putin will be in Durban, South Africa, on March 26 and 27. The Myre Seadiver crew have […]

by John Helmer - Monday, March 25th, 2013
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By John Helmer, Moscow The UK High Court and the Court of Appeal have now ruled three times to dismiss almost eight years of legal claims by state shipping company Sovcomflot, adding up (with interest and costs) to about one billion dollars. On top, Sovcomflot’s chief executive Sergei Frank (image left, left, tree) has been […]

by John Helmer - Monday, March 11th, 2013
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By John Helmer, Moscow The UK Court of Appeal yesterday cut short Russian tanker company Sovcomflot’s 7-year lawsuit, ruling that two earlier High Court judgements exonerating the conduct of former chief executive of Sovcomflot, Dmitry Skarga, must stand. The dismissal by the High Court of most of Sovcomflot’s claims against former chartering partner, Yury Nikitin, […]

by John Helmer - Thursday, March 7th, 2013
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By John Helmer, Moscow Russian government relations with Nigeria have collapsed after negotiations have failed to free from five months of detention the Russian fleet tender vessel, Myre Seadiver, and its 15-man Russian crew. They have been charged with arms smuggling. The case is now viewed in Moscow as a repeat of the African Pride […]

by John Helmer - Tuesday, February 26th, 2013
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By John Helmer, Moscow What’s sauce for the goose is sauce for the gander — the English proverb is not about birds or cooking, but about equal treatment. When it comes to operating tanker fleets in and out of Russia’s ports, foreign-owned vessels have been enjoying equality of access for some time. That may be […]

by John Helmer - Thursday, February 21st, 2013
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By John Helmer, Moscow The UK High Court ruled today that Yury Nikitin, a London-based Russian shipping entrepreneur, had engaged in corruption and “dishonest assistance” in order to secure profitable charters from Novoship UK (NOUK). At the time, Novoship was an independent Russian shipping company; since 2007 it has been a subsidiary of the state-owned […]

by John Helmer - Friday, December 14th, 2012
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By John Helmer, Moscow The state-owned tanker company Sovcomflot is to avoid the London Stock Exchange (LSE) for its initial public offering (IPO). Instead, it is reviving a decade-old plan of former chief executive Dmitry Skarga and will attempt to list its shares on the New York Stock Exchange (NYSE). A source in a position […]

by John Helmer - Tuesday, December 4th, 2012
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By John Helmer, Moscow The Fitch ratings agency has issued a downgrade for Sovcomflot, the state-owned tanker group, claiming the failure of the company to privatize and sell shares, planned for this year, is weakening its ability to cover its current debts, as revenues remain under pressure from poor freight rates. But the debt picture […]

by John Helmer - Monday, November 12th, 2012
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