Russia’s state-owned Sovcomflot has ordered four 114,000-dwt LNG-fuelled ice-class aframax tankers worth a total of $240m at Hyundai Samho Heavy Industries (HSHI) on the back of charter contracts from oil major Shell.
Sovcomflot (SCF) booked $354.5m in profit in 2015, a year-on-year increase of more than four-fold compared to $83.9m in 2014.
Sovcomflot (SCF) technical management subsidiary SCF Unicom recently marked its 25th anniversary with a reception in Limassol last week.
Sovcomflot (SCF) reports that it is benefitting from immunity to falling LNG and offshore rates thanks to long-term charter agreements, while its crude fleet rides the buoyant tanker spot market.
A surge product tanker and gas transportation profits led Sovcomflot (SCF) to a $97m profit in the first quarter, a 67% jump on Q1 2014.
Sovcomflot has reported a $83.9m profit for 2014 as it continued to focus on developing its gas transportation business, and its tanker fleet benefited from a strong market.
Sovcomflot (SCF Group) and Russian Maritime Register of Shipping (RS) have both taken steps to make the Russian fleet more competitive. In 2014, 10 SCF Group vessels were transferred to the RS class, meaning that it is now responsible for the...
Sovcomflot (SCF) has signed a new $319m, 10-year, limited recourse credit facility with a European bank consortium.
Sovcomflot reports an increase in operating profits across all five of its business sectors in the third quarter, bringing net profit to $45.4m up from $9.1m in the same period last year.
South Korea’s Samsung Heavy Industries (SHI) has won an order worth $440m to construct three ice-class shuttle tankers for Russia’s state shipping firm Sovcomflot.