A crisis is breaking out in the Russian maritime transportation market: CStar Line and STF Shipping companies have announced the suspension of operations and the termination of the acceptance of new cargoes. Sources told InfraNews that the work stoppage was due to financial difficulties caused by disruptions in settlements with their key client, the Delo Group of companies.
The Russian agent of these carriers, Login NMP, has confirmed that it is temporarily stopping accepting orders in consultation with shipping lines and is awaiting further instructions. Shippers are advised to contact alternative operators. At the same time, Delo Group assured that they were not related to the activities of Login NMP, despite the coincidence of contact information and address.
According to market participants, both companies have accumulated significant debts, and their solvency is under threat. Shipping lines, according to sources, are forced to unload imported cargo and suspend export shipments, preparing to bring ships to their berths. Experts agree that the reason for the crisis was the high level of dependence of carriers on one customer and an unbalanced financial model of cooperation.
Additional evidence of the problems can be found in court filings. For example, Vostochnaya Stevedoring Company, a member of Delo Group of Companies, is demanding that the court recover debts from CStar Line in excess of 862 million rubles. The proceedings are being conducted in the Arbitration Court of Primorsky Krai.
CStar Line, registered in Dubai, has been actively developing its business in Russia and has become one of the largest foreign container carriers by 2023. However, in the summer of 2024, the company shut down operations in the Far East, transferring services to Chinese STF Shipping. In 2025, CStar Line suspended two more routes through Novorossiysk, promising to return after the situation stabilizes. Now both lines have actually stopped operating.
The figure of the Login NMP company is also of interest. Founded at the end of 2024 by Sergey Boycharov, it has direct links with business representatives associated with Delo Group. Timur Butov, CEO of Login NMP, previously worked for the Delo management company, and Boycharov himself headed the structures included in the group's orbit.
The suspension of the activities of two major operators threatens the stability of container flows in Russia. Experts warn that if the situation is not resolved in the coming months, a new wave of disruptions in maritime logistics and the redistribution of cargo flows in favor of Chinese and Indian lines is possible. This could change the balance in the market and increase Russia's dependence on Asian players.
