The Russia's top shipping company Sovcomflot initial public offering (IPO) is expected in Q3 2016, part from the privatization program by the government. An IPO for Sovcomflot could take place later this year. The current fleet of Sovcomflot numbers 142 vessels with total deadweight of 12.4 million DWT. The troubled Russian economy will need for speed up the privatization of the country largest shipping company, as getting fresh funds into the budget for 2016. Russian president Vladimir Putin summoned on a meeting the directors of the leading state-owned companies, including Sovcomflot, Rostelecom, Transneft, Aeroflot and Rosneft, negotiation with the the IPO and privatizations.