By John Helmer, Moscow Russia’s government-owned fleet operator Sovcomflot, run by Sergei Frank, has announced that international commodity trader Glencore will take over, market and operate five of its newest oil tankers as they come out of the shipyard and put to sea. The history of Glencore in Russia since 1991 is a simple one […]

by John Helmer - Sunday, February 19th, 2012
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By John Helmer, Moscow The state-owned maritime conglomerate, United Shipbuilding Corporation (USC), will acquire the Vyborg Shipyard, on the Gulf of Finland near St. Petersburg, the USC spokesman Alexei Kravchenko confirmed to Fairplay in Moscow on Friday.

by John Helmer - Monday, January 23rd, 2012
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By John Helmer, Moscow There are two ironies in Sergei Frank’s latest outing in the London courts on November 4. One is that Frank, chief executive of Sovcomflot, is not lodging an appeal against rulings last December and March by High Court Justice Andrew Smith, judging Frank himself to have been dishonest. Nor is he […]

by John Helmer - Monday, November 7th, 2011
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By John Helmer, Moscow Fitch Ratings issued a modified warning on Sovcomflot this week, claiming that the big Russian’s tanker revenues were at risk of coming up short against the company’s obligations. In that event, Fitch London analyst Jeannine Arnold reports, Sovcomflot may have to sell off the hulls and newbuildings which are on order, […]

by John Helmer - Thursday, October 13th, 2011
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By John Helmer, Moscow Sergei Naryshkin (right image), the Kremlin chief of staff, who has been chairman of the board of Sovcomflot, the state-owned tanker operator, has been replaced by Ilya Klebanov (left), a former federal minister of industry, according to a Kremlin release last Friday, October 7. The appointment appears to have taken Sovcomflot […]

by John Helmer - Monday, October 10th, 2011
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By John Helmer, Moscow Oleg Mukhamedshin, the man in charge of raising money and covering debt for United Company Rusal, was spotted last week in London carrying bags into his mansion. This is what has been happening to the aluminium he has been selling:

by John Helmer - Friday, October 7th, 2011
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By John Helmer, Moscow For long enough already, Roman Abramovich and Boris Berezovsky have been trading mutual recriminations and accusations of bribery, blackmail, extortion, fraud, breach of trust and breach of contract, set out in the latter’s UK High Court claims against the former, so that the biggest surprise at the commencement of the trial […]

by John Helmer - Wednesday, October 5th, 2011
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By John Helmer, Moscow If Sergei Frank, chief executive of Sovcomflot, the state-owned Russian shipping company, had not been judged recently in the UK High Court to be dishonest, vindictive, and unbelievable, a warning from a global ratings agency of potentially bad news to come about his company may not be as serious as the […]

by John Helmer - Friday, September 30th, 2011
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By John Helmer, Moscow Joint Fruit Company (JFC), once the owner of Russia’s largest fleet of banana boats and the largest importer of bananas in the Russian market, is slipping on something much bigger than one of its own fruit skins. But the company and its owner, St. Petersburg entrepreneur Vladimir Kekhman, insist everything is […]

by John Helmer - Friday, September 23rd, 2011
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1. It looks like there’s going to be a hot autumn in Moscow? Or is that just an illusion due to very vocal electioneering and of course the media accompaniment?

by John Helmer - Wednesday, September 21st, 2011
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