Volga Targets Market Growth With New Dry Cargo Fleet

Russian shipping giant Volga Shipping Company has embarked on a fleet modernization program to strengthen its position in the transportation of export cargo.

Volga, which is among the largest shipping companies in Russia, announced the fleet modernization program is intended to run until 2030 and includes the construction of about 20 dry cargo ships.

In the immediate future, the company intends to build new RSD71 design sea-going dry bulk ships starting with four river-sea mixed class vessels this year.

“At this phase, we are planning to build four dry cargo vessels for the new RSD71 project. The first two vessels' delivery is scheduled for 2022, followed by two more units in 2023,” said Yuri Gilts, Volga General Director.

He said the company plans to build two to four units every year, gradually renewing its fleet by replacing the aging dry cargo ships of the Omsk and Sormovsky class.

Currently, the company owns and operates a fleet of more than 236 dry cargo ships and tankers of total deadweight tonnage (DWT) exceeding 1.4 million tons. Its key port destinations are in Europe, the Middle East, North Africa, and the Caspian S?a. The annual volume of transported goods is in excess of 14 million tons.

The ships will be built at the Nizhny Novgorod-based Okskaya Shipyard JSC and are being undertaken in cooperation with the Odessa- and St. Petersburg-based Marine Engineering Bureau.