OREANDA-NEWS. With the purpose to optimize its operations and focus on developing its core business, Latvian Shipping Company (LSC) has disposed of the daughter company LSC Marine Training, which was in the third party seagoing personnel training business. Though the financial performance of LSC has improved, particularly in the first quarter of the year, the global shipping market continues to be challenging. Therefore, it is critical that the company focus on enhancing and developing its core business. LSC is operating prevailingly in the medium-sized and handy tanker market.

In the medium-sized and handy tankers categories JSC „Latvijas kugnieciba” (NASDAQ OMX RIGA: LSC1R) is among the leading ship owners in the world, and in terms of transport volumes of petroleum products it is also in a leading position among similar companies in Northern Europe. It owns 19 modern ships, employing more than 700 professional and highly qualified seamen from Latvia. The total carrying capacity of the LK fleet is 957 974 DWT and the average age of the fleet is 6.3 years. All ships have received ISM (International Safety Management) certificates.