This is the problem when it comes to translating the Cyrillic Alphabet, Ron.
Your 100% right, it is spelt with a "Y" in Lloyds, Ambrose Greenway's, Soviet Merchant Ships and Soviet Bloc Merchant Ships so we must conceed that Maramar have got it wrong.In which case the way the name is written on the ship is also wrong.
Take the final three letters "T b E" , some symbols do not have a Literal Translation and "b" is one of them. See fourth line up from the bottom. To represent "Y" it should be the Fifth symbol up "bI".
And I'm not even going into the other symbol for y...........
That's what makes translating the names of Soviet Merchant ships so much fun.
And its even better when you try and sort of Warships!!