By John Helmer, Moscow The Russian government has issued a new order listing the state shareholdings to be privatized this year and next. Order No. № 513-p, signed on March 24, omits Sovcomflot from the privatization list, thus barring the sale of the shipping company’s shares: (Order No. 513p).

by John Helmer - Friday, April 1st, 2011
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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 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 In the Naughty-Boy School of Government, it is required for the boys to apply for the master’s permission to sit; stand; ask a question; refill their inkwells, and leave the room to answer the call of nature. In the history of the great English Public Schools, a great deal of bladder […]

by John Helmer - Monday, February 7th, 2011
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By John Helmer, Moscow The Prime Minister has asked Russians to send him their choices of a name for a young Bulgarian shepherd dog, which was presented to him by the dog fancier, Bulgarian Prime Minister Boyko Borisov, when the two met in Sofia on November 13.

by John Helmer - Thursday, December 16th, 2010
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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 in Moscow Sovcomflot (SCF), the state oil tanker company and currently the 5th energy shipper in the world, has made its first detailed public disclosure to investment markets in a multi-million dollar debt prospectus. Deutsche Bank, JP Morgan, and VTB are the arrangers.

by John Helmer - Monday, October 18th, 2010
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