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Latvian Shipping Co looks beyond Russia market.
(From Lloyds List)
PRAGMATISM has tempered ambition at the Latvian Shipping Co with management holding back from pinning the company's destiny on Russian oil, writes Jerry Frank.
The Latvians have shown reticence as others have piled in to the Russian market and opted for ice class 1B rather than 1A tonnage from Croatia.
Latco is keen to stress that it is far more than a Baltic oil sea transport fleet and is looking beyond Russia for its time chartered and spot market operated fleet.
Chairman Capt Vikmanis says this wide area of operations means an ice class 1B specification for the newbuild product tankers is more than adequate.
'Most of our ships carry in Europe, Mediterranean, Africa and the US too,' he adds.
And, with Russia steadily developing its own top ice class capacity, Latco is looking to spread its business beyond its larger neighbour and former paymaster.
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