By John Helmer, Moscow The state-owned Russian tanker company Sovcomflot revealed this week that its profits are sinking, and that despite months of effort Morgan Stanley, Sovcomflot’s banker and broker, has been unable to attract market demand for its shares. As the much delayed privatization and initial public offering (IPO) of Sovcomflot shares fail once […]

by John Helmer - Thursday, September 15th, 2011
No Comments »

By John Helmer, Moscow Sergei Frank (bottom image), chief executive of Sovcomflot, is hanging on to his job despite judgements by the UK High Court last December and this March that he is a liar and worse. Sovcomflot, one of the largest oil tanker companies in the world, has sought leave to appeal against the […]

by John Helmer - Friday, July 15th, 2011
No Comments »

By John Helmer, Moscow If you’re feeling peckish, but the price of fish is too high to swallow, whom do you call? Gennady Timchenko (right image), that’s who – the man who has settled with several English newspapers out of court that he’s not a friend of Prime Minister Vladimir Putin and benefits commercially in […]

by John Helmer - Wednesday, July 6th, 2011
No Comments »

By John Helmer, Moscow It was just five weeks ago that First Deputy Prime Minister Igor Shuvalov was pledging his allegiance to President Dmitry Medvedev and his unswerving compliance with the April 2 presidential decree ordering ministers of state to vacate their seats on state company boards. In Shuvalov’s case, he insisted that under no […]

by John Helmer - Friday, May 20th, 2011
No Comments »

By John Helmer, Moscow Vladimir Lisin (far right), owner of Russia’s powerful Novolipetsk steelmaking group and one of the country’s richest men, is the choice of Deputy Prime Minister Igor Sechin (3rd from left) for new board chairman of the state shipyard conglomerate, United Shipbuilding Corporation (USC).

by John Helmer - Friday, May 13th, 2011
No Comments »

By John Helmer, Moscow The primaries for the Russian presidential campaign have already begun, and there are three contenders – Igor Sechin, Dmitry Kozak, and Dmitry Medvedev. Vladimir Putin isn’t a contender – he is the convention with all the votes; he makes the choice.

by John Helmer - Monday, April 11th, 2011
No Comments »

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
No Comments »

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
No Comments »

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
No Comments »

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
No Comments »