For several recent years the issue of the Russian fleet upgrade has been an urgent agenda for Russian government, the ministries and the businesses, but things are still where they started, though there is no opponent of the idea. It is quite clear that the modernization of domestic fleet, the pressing problems in the shipping and shipbuilding industry can not be resolved quickly, even with adequate political will. However, there is still one solution to the problem – the upgrade of river and sea vessels can be achieved through the so-called conversion, proposed by Russian River Register and Marine Engineering Bureau.