Sovcomflot, Russia’s largest shipping company, saw 2011 net profit plummet 67.3 percent year-on-year to $53.7 million to IFRS, the firm said in a statement on Thursday. The company’s revenue increased 9.6 percent last year to $1.439 billion, while its Earnings Before Interest, Taxation, Depreciation, Amortization (EBITDA) fell 13.6 percent to $460.8 million. Sovcomflot’s time-charter equivalent […]