Volga Shipping


Board’s Decision of the Volga Shipping Company

In November 2022, the Board of Directors of the Volga Shipping Company JSC approved the Sale of one more oil tanker of the 19614 Project. The Contract is scheduled to be closed in January 2023.

The decision was made as part of the implementation of a long-term strategy involving the exit of the shipping company from the oil and petroleum products transportation market. Bulk-oil transportation has been unprofitable for the Company over the past few years.

In September 2022, the Volga Shipping Company has already completed the sale of five tankers; in November the company's Board of Directors agreed on the sale of eight more tankers, three of which are currently being transferred to a new owner.

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