North-Western Shipping Company merges into Volga-Fleet
North-Western Shipping Company PJSC has merged into Volga Shipping Company JSC (run by Transport Assets Management LLC) with the procedure completed on 2 July 2020, says press center of the company.
The main purpose of the merger is shipping business development with a single strategy, consolidation of the best competences in commercial, operational, technical and personnel management as well as safety of shipping and financial resources.
The newly merged company will operate under a brand of Volga Shipping Company which turns into Russia’s largest private shipping company.
Volga-Fleet JSC is a full successor of North-Western Shipping Company PJSC.
Yury Gilts, Managing Director of Volga Shipping Company, comments: "The fleet of the merged company numbers 236 cargo ships with a total deadweight exceeding 1.4 million tonnes. The company has three ship repair facilities. The reorganization will let take full advantage of fleet operation and repair, expand the geography of transportation and the range of cargo".
Established in 1843 and incorporated in 1999, Volga Shipping Company is Russia’s oldest shipping enterprise. In 2019, Volga Shipping Company and North-Western Shipping Company carried 14.3 million tonnes of cargo. Following the merger with North-Western Shipping Company PJSC the range of services offered by Volga Shipping Company includes: transportation of dry bulk, general, liquid bulk and project cargo along inland water ways of Russia by river-sea and international routes.