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Port services market stagnating in Russia

Port services market stagnating in Russia

The January-September 2013 period, net profit of JSC Sea Port of Saint-Petersburg, owned by Vladimir Lisins’ UCL Holding, was 19% below that recorded for the same nine months in 2012.  The situation at Petrolesport OJSC was worse, as its earnings plummeted by 60% over the same period.

At the same time Petrolesport announced that it wants to invest US$1bn in a fundamental reconstruction and extension of its port sector over the next ten years.