Vladimir Putin reportedly has lamented the state of Russian shipbuilding, criticizing the pace of efforts to overhaul the industry, according to a recent AP report.

Putin, making his first working trip as premier to his hometown of St. Petersburg, used a visit to the federally owned Admiralty Shipyard in the port city to focus on one of the major industries his government has made a priority of revamping.
Earlier this week, Putin reportedly named Igor Sechin, as chairman of the state shipbuilding corporation . Too many contracts for building ships, offshore drilling platforms and other maritime-related manufacturing were going to foreign companies, Putin reportedly said. He said just a small fraction of major shipbuilding contracts were going to Russian builders. (Source: AP)