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.

OAO Sovcomflot (SCF) has reported a net profit of $63.6m in the first half, reversing a loss of $14.5m in the same period last year.

Despite an operating profit of $12.4m for the second quarter, Sovcomflot (SCF) has reported a net loss of $16.4m, compared to a $5.5m profit for the same period last year.

Sovcomflot (SCF) has reserved construction slots with Russian shipbuilding group United Shipbuilding Corporation (USC) to expand its fleet of Velikiy Novgorod class LNG carriers.

Russian shipping giant Sovcomflot, natural gas provider OAO Novatek and Russian state corporation "Bank for Development and Foreign Economic Affairs" (Vnesheconombank) have signed an mou for the construction of two gas carriers for the Yamal LNG...

Net profit at Russian tanker outfit Sovcomflot dropped 95.6% year on year from $45.4m in the first quarter 2012 to $2m in the same period 2013.