• 2017 October 4 18:19

    Sovcomflot demonstrates stable financial results

    PAO Sovcomflot (“SCF Group”) says its Board of Directors met on 3 October 2017 and approved the company’s financial results for the first half of 2017. At the same time the members of the Board noted that, despite the notable weakening in the global market for shipping commodities by sea, the company demonstrated stable financial results. Sovcomflot’s gross revenues for the first half of 2017 totalled USD 710.1 million, with a net profit of USD 15.2 million.

    Against a background of extremely unfavourable conditions in the global tanker shipping market, SCF Group continues to expand its fleet serving long-term industrial projects. On 27 March, the world’s first ever icebreaking liquefied natural gas (LNG) carrier, Christophe de Margerie, joined the Sovocmflot fleet. Meanwhile, two new icebreaking platform supply vessels, Gennady Nevelskoy and Stepan Makarov, were commissioned in the second quarter of the reporting period, serving the Sakhalin-2 oil and gas projects.

    The members of the Board were briefed about the key events for SCF Group during August and September 2017:

    On 17 August, Christophe de Margerie, the icebreaking LNG carrier, successfully completed her first commercial voyage, delivering a shipment of LNG along the Northern Sea Route from Norway to South Korea.

    On 25 September, Sovcomflot signed a package of agreements with Rosneft, State Transport Leasing Company and Far Eastern Shipbuilding and Ship Repair Centre for the construction of five Aframax oil tankers and their subsequent use to export crude oil and Rosneft’s oil products. The tankers will primarily use natural gas fuel (LNG) and will be built by Far Eastern Shipbuilding and Ship Repair Centre (Primorsky Krai) in conjunction with Hyundai Heavy Industries (South Korea). Sovcomflot will operate the vessels.

    On 27 September, Sovocmflot was named “Tanker Operator of the Year” by the leading industry journal Lloyd’s List. The Lloyd’s List Global Awards are considered one of the most prestigious awards in the global shipping industry.

    Sovcomflot has been named a finalist at the international Platts Global Energy Awards 2017, promoted by the American information agency Platts, in four different award categories: Engineering Project of the Year (Cristophe de Margerie); Financial Deal of the Year (2016 Eurobonds and Eurobond tap in 2017); Industry Leadership – LNG; Industry Leadership – Midstream.

    PAO Sovcomflot (SCF Group) is one of the world's leading shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as servicing offshore upstream oil and gas installations and equipment. The Group’s fleet comprises 149 vessels with a total deadweight of over 13.1 million tonnes. The company is registered in St. Petersburg with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai. 

    The Group offers a wide range of vessels in the market segments most demanded by major Russian oil and gas companies. With its own technical development and unique approach to advanced technologies, Sovcomflot can meet the most demanding customer requirements, providing effective transportation for oil & gas companies.




2018 December 19

13:33 SFL enters into lease financing agreement for 3 x 10,600-teu boxships and delivery of Front Falcon
12:58 Maersk joins the Ship Recycling Transparency Initiative
12:55 7 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 18-19
12:23 Damen signs with Gerd Stensen for Stan Tug 1606
12:21 Havyard announces its eight windfarm service vessel
11:56 Simulation exercises to improve port security held in Panama
11:31 Port of Newcastle continues modernization of its bulk terminal
11:09 RF Government gives instructions to address the issue on construction of four gas-powered icebreakers
10:50 Regional workshop to address barriers for effective implementation of MARPOL Annex VI held at REMPEC
10:32 Brent Crude futures price down up 0.20% to $56.37, Light Sweet Crude – up 0.04% to $46.64
10:14 THE Alliance unveils enhanced service network for 2019
09:57 Finnish Transport Safety Agency set to contribute to automation of maritime navigation
09:35 FESCO BoD approved new composition of Executive Board
09:16 Baltic Dry Index is down to 1,395 points

2018 December 18

18:21 Uniper SE and MOL enter into agreement on FSRU project in Germany, and one additional LNG transportation agreement
18:00 Throughput of Chinese ports grew by 4.3% to 8.47 billion tonnes in 11M’18
17:46 Rolls-Royce to deliver advanced ship technology to two more expedition cruise vessels for Mystic Cruises
17:43 Aircraft carrier HMS Queen Elizabeth enters LR class
17:27 SOL adds Finnish port of Pietarsaari/Jakobstad to the Zeebrugge route network
17:04 Finnpilot Pilotage BoD decided for no increase in the pilotage fees for 2019
16:42 GTT bags yet another tank design order for LNGC duo
16:38 PRA starts construction of new plastics recycling facility at the Port of Amsterdam
16:25 Arctia and Meritaito join forces to expand their range of services
16:09 Crowley integrates DFTS management into government solutions group to unify supply chain services
15:42 KN enhances its relations with American LNG giants
15:18 BW Group Limited purchased 137,000 shares
14:53 Icebreakers of FSUE Rosmorport assisted 680 ships in navigation season 2018-2019
14:28 Shell Oman and Port of Duqm ink agreement to develop fuel bunkering facilities
14:11 Golar LNG receives LNTP for an FLNG vessel for Greater Tortue / Ahmeyim Project P1, West Africa
13:47 WEG and Praxis sign MoU to support Damen Saab bid for the Brazilian Navy
13:41 Eni gets approval of the investment plan for Merakes Development Project in Indonesia
13:22 Sovcomflot closes USD 264 million long-term revolving credit facility
12:58 Bunker prices are flat at the Far East ports of Russia (graph)
12:40 Antwerp, Belgium will host the 3rd European Environmental Ports Conference on 12-13 June 2019
12:19 Keppel receives limited notice to proceed for GIMI FLNG
11:57 3 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 17-18
11:35 Terna’s MONITA HVDC Project: Nexans reaches key milestone with successful completion of submarine power cable
11:10 Container throughput of port Hong Kong (China) down 5.4% to 17.96 million TEUs in Jan-Nov’18
10:46 Bunker sales at the port of Singapore in 11M’18 down 1.8% Y-o-Y to 45.49 million tonnes
10:23 Maersk announces rate increase for Far East to North Europe trade
10:05 Brent Crude futures price down 1.53% to $58.72, Light Sweet Crude – down 1.61% to $49.39
09:47 Austal export opportunity supported by Australian Government financing
09:31 Rosatom drafted Rules for providing navigational and hydrographic support in NSR waters
09:14 Baltic Dry Index is up to 1,406 points

2018 December 17

18:23 Sembcorp Marine retains its position as Asia’s top cruise ship repair and upgrade solutions provider with newbuilds projects delivered in 2018
18:02 USPA announced tenders for dredging in Mariupol and Berdiansk seaports
17:48 SITC holds naming and delivery ceremony for M/V SITC SENDAI
17:37 ONE to implement LSF surcharge in China and Taiwan
17:15 NCSP Group's consolidated cargo turnover for January-October totaled 116,946 thousand tons
16:41 Moody's reaffirms Panama Canal's A2 long-term rating with stable outlook
16:26 Port of Oakland shatters 11-year-old record for November imports
15:54 Yamal LNG will build one more natural gas liquefaction facility
15:27 Nor-Shipping and Nordic Innovation team up for “Sea Meets Land” funding initiative
15:17 PETRONAS releases Annual Activity Outlook report for 2019-2021
14:56 NOVATEK elects a new member to the Management Board
14:37 Average wholesale prices for М-100 HFO down to RUB 15,328 in RF spot market
14:13 Damen’s triple delivery for Murjan Al Sharq Marine Contracting
13:41 Pacific Fleet and Indian Navy warships practice inspection operation as part of Indra Navy 2018 Russian-Indian naval exercise
13:19 Queen Máxima christens Van Oord's TSHD Vox Amalia
12:58 9 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 16-17