On July 28, the Ministry of Property and Land Relations of the Sakha Republic (Yakutia) increased its equity position in Joint Stock Lena United River Shipping Company (LORP) to 51% from 25.5%, LORP informed.
At the same time, the Russian Federation represented by the Federal Agency for State Property Management withdrew from the shipping company selling its 25.5% equity stake.
Joint Stock Lena United River Shipping Company (LORP, tax number: 1435029085) formed in 1994 is engaged in the transportation of petroleum products (in bulk) and dry cargoes within the Lena River and its tributaries Vitim, Olyokma, Aldan and Vilyuyi. The company comprises the Zhataisky and Peleduisky shipbuilding and ship repair plants, the Belaya Gora and Olyokminsk river ports, the Osetrovo branch, Production and Technical Department of Communications and Radio Navigation.
LORP's authorized capital (RUB 833.796 million) is represented by 156,240,000 preferred shares (18.74%) and 677,556,000 common shares (81.26%) with a face value of 1 ruble.
According to the DataCapital information retrieval system, RAS net loss of LORP for 2013 was RUB 818.094 million against a profit of RUB 46.508 million the year before. Revenue decreased by 7.24% to RUB 2.954 billion from RUB 3.185 billion, sales loss was RUB 541.301 million against a profit of RUB 36.068 million for 2012, loss before tax was RUB 884.852 million against a profit of RUB 108.482 million.