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Variance in fortunes for Russian ports
10 Jun 2008
Vladivostok Port has reported a net profit of $9.54m for 2007, 3.3 times better than the 2006 result. During the same period, revenue grew by 34% to $53.21m, while cargo throughput increased by 20.6% to 4.8m tonnes.
However, final figures were not so impressive at St Petersburg, where stevedoring group Sea Port of St Petersburg reported a net loss of $3.39m compared with a profit of $1.09m the previous year.
Stevedoring company Novorossiysk Commercial Sea Port, which operates in the Black Sea port of the same name, reported a 112.47% increase in net profit last year to $93.67m.
