The Sovcomflot-owned company said it was "very disappointed" that Nikitin will keep profits of $108m from tanker charters that the UK court of appeal agreed were corruptly won.

In a judgement handed down on Friday, the court found Nikitin was dishonest and accepted bribes for introductions to vessel charters of $410,000 - which he must repay - in a case also involving ex-Novoship general manager Vladimir Mikhaylyuk and Venezuelan shipowner Wilmer Ruperti.

But