OREANDA-NEWS. April 28, 2010. Murmansk Shipping Company (MSC) 2009’s financial results show the MSC ended up the year with net income at 136.600.000 rubles (USD 4,729.4) or a year-over-year 2.74% drop. The total volume of transported cargoes by the shipping company in 2009 amounted to 7,889,000 tons, an 8% increase compared with that of the pre-crisis 2008. The cost of MSC’s fixed assets in 2009 increased by 1.8 billion rubles, the Murmansk Shipping Company Board of Directors statement said.

Last year the MSC added to its fleet two new Ice-Class bulk carriers, Novaya Zemlya (New Land), and Severnaya Zemlya (Northern Land).

The Board of Directors recommended the Company’s stockholders meeting to announce the dividends payout on 2009’s financial results. The amount of dividends was not disclosed.

In general, there have been positive financial results, the statement said. The total net income of Murmansk Shipping OJSC and Northern Shipping OJSC as a result of their activities in 2009 exceeded the numbers in 2008 by 3.1%.

The Holding’s companies have significantly cut costs and administrative expenses; the structure of assets has been optimized. The strategy resulted in 1.435 billion rubles. The companies’ average monthly wage increase was at 11.4% per an employee, the statement said.

Murmansk Shipping Company OJSC is a highly integrated corporation, including the fleet of three Russian shipping companies: Murmansk Shipping OJSC, Northern Sea Shipping OJSC, Northern River Shipping OJSC, with total deadweight of about 1.2 million tons. Russian Govt.’s holds a 25.5% share in the Company’s authorized capital stock.