Novorossiysk Commercial Sea Port

Nikolai Tokarev, the president of Transneft, Russia’s state oil pipeline monopoly, rarely gives interviews let alone criticizes the company’s business partners in public. So it’s puzzling to see the former KGB officer airing complaints about the Summa Group, Transneft’s co-shareholder at Novorossiysk Commercial Sea port, Russia’s biggest stevedoring company. 

A new year, a new group of Russian companies that are slated for privatisation.

One of the first up looks to be Novorossiysk Commercial Sea Port, the country’s biggest port operator. Yet so far things haven’t exactly gone as advertised. And the plot is only getting murkier.