• 2019 April 15 09:15

    Sovcomflot BoD proposed to allocate RUB 1.435 billion for payment of dividends

    At a meeting held on 11 April 2019, the Board of Directors of PAO Sovcomflot reviewed the results of SCF Group’s operations in 2018, the company says in a press release.

    The Board gave provisional approval to the Group’s 2018 annual report and accounts.

    The Board of Directors noted that during the reporting period, conditions in almost all the segments of the global freight market remained extremely challenging, with freight rates levels reaching the lowest in the last 25 years.

    Against this background, SCF Group achieved solid operating and financial results, securing operating profit of USD 187.3 million and showing growth in key performance indicators: gross revenue (IFRS) increased by 5.9 per cent to USD 1.52 billion compared to 2017; net revenue increased by 1.6 per cent to USD 1.07 billion; EBITDA increased by 6.5 per cent to USD 580.7 million.

    “Despite the freight market downturn creating unfavorable conditions for tanker owners, Sovcomflot has fully accomplished all the objectives set by the company’s strategy. By consistently implementing its strategy, the company was able to expand the participation of its fleet in high added-value industrial projects. Revenues from offshore operations and liquefied gas transportation grew steadily, accounting of 57 per cent of 2018 total net revenue”, said Ilya Klebanov, Chairman of the Board.

    The Board noted that in 2018, Sovcomflot strengthened its position as the technology leader of the global tanker industry by successfully introducing a series of the world’s first Aframax oil tankers using LNG fuel as their primary fuel.

    “The company's work in this area is fully consistent with the state program of the Russian Federation, which provides for expansion of the use of LNG fuel in the transportation sector. Being one of the largest customers of the Russian civil shipbuilding, Sovcomflot actively contributes to localizing the construction of new-generation tankers within Russia, at Zvezda Shipbuilding Complex in Primorsky region of the Russian Far East”, stressed Ilya Klebanov.

    “In 2018, the company has grown its portfolio of long-term time-charter contracts with oil & gas majors, which enabled Sovcomflot to increase the amount of future contracted revenues by USD 1.7 billion. During Q4 2018, the conventional tanker shipping market saw the signs that the balance of the tonnage supply and demand for oil & petroleum products transportation is shifting, allowing spot freights rates to recover, a positive trend for shipowners that continued into Q1 2019. According to the management accounting system, the company's net revenue for Q1 2019 is more than 20 per cent higher than in the same period last year”, said Sergey Frank, CEO & President of Sovcomflot.

    The Board of Directors proposed to allocate RUB 1.435 billion for payment of dividends.

    Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production. The company’s fleet includes 146 vessels with a total deadweight of over 12.7 million tonnes. Over 80 vessels have an ice class.

    Sovcomflot is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The company is headquartered in Saint Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.




2019 April 20

16:31 CMA CGM announces FAK rates for Asia - the Middle East Gulf trade
15:02 MOL pledges support for Mozambique in wake of devastating cyclone
14:42 USCG Cutter Waesche crew returns home after 95-day counter-narcotics patrol
13:27 CMA CGM announces FAK rates for Asia to Pakistan / India / Sri Lanka trade
13:12 Carnival Cruise Line, CFVI unveil revitalized Griffith Park in St. Thomas for local children
12:26 BC Ferries celebrates Earth Day with the return of the Spirit of Vancouver Island
11:04 Certification of Arkona offshore wind farm by DNV GL confirms safe and reliable power supply
10:49 Navios Maritime Acquisition Corporation announces $103.2 million sale and leaseback transaction
10:38 Boskalis acquires EUR 75M dredging contracts in Indonesia

2019 April 19

18:07 Keppel posts net profit of S$203M in 1Q 2019
17:28 Passenger Port of Saint-Petersburg to complete Phase 1 of Berth No7 reconstruction in summer 2019
17:04 Saudi Aramco partners with the Saudi Contractors Authority fostering collaboration at ‘Future Projects Forum’
16:57 BAE Systems Jacksonville secures Navy's conntract mod for DDG 117
15:04 Hyundai LNG Shipping announces order for one VLGC at HHI
14:55 Marina for 100 yachts to be built in Feodosia by Firm “TES” LLC
14:10 C-Fenna successfully completes Fugro 1200 jackup towing operations
13:32 ESPO congratulates Port of Huelva for renewing EcoPorts’ environmental management standard
13:07 Spirit of Vancouver Island vessel returns to service after mid-life upgrade including conversion to natural gas
12:44 New High Bay Container Storage system launched as “BOXBAY”
12:10 ABS teams with industry leaders to improve container vessel safety
11:39 Port Arthur LNG receives FERC authorization for export project in Texas
11:08 Dual-fuel AET tankers conduct maiden LNG bunkering
10:43 Largest barge of Azerbaijan Caspian Shipping Company undergone overhaul
10:19 Brent Crude futures price is down 0.04% to $71.95, Light Sweet Crude – up 0.38% to $64
09:56 Bunker prices are sable at the port of Saint-Petersburg, Russia (graph)
09:35 TransContainer’s transportation volumes in Q1’2019 increased by 7.7% Y-o-Y to 492,000 TEUs
09:17 Baltic Dry Index is up to 790 points
07:42 GTT receives an order from DSME for the tank design of a new LNG carrier

2019 April 18

18:36 South Stream Transport B.V. and Saipem announce the amicable settlement of mutual differences
18:06 Seaway 7 selected as partner to develop Hollandse Kust Zuid Offshore Wind Farm
17:36 WinGD reports strong first quarter 2019
17:11 Launching ceremony held for eighth shallow-draft barge of Project ROB20
17:05 SOFEC completes engineering, supply and delivery of mooring system
16:26 Port of Murmansk to welcome eight cruise liners in summer season of 2019
16:05 Cooperation agreement between Eimskip and Royal Arctic line approved by the Icelandic Competition Authority
15:44 Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
15:12 Nefteflot laid down two barges of Project RDB12 ordered by STLC
15:10 MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
14:40 Port of Rotterdam freight throughput grows by 5.1% in first quarter of 2019
13:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:03 Biggest European shipbuilders collaborate on vessel connectivity in project Code Kilo
12:49 NOVATEK reports preliminary operating data for the first quarter 2019
12:13 Frontex, EMSA and EFCA open second annual European Coast Guard Event
11:51 RF Navy’s Northern Fleet takes part in combat training missions as part of final check for winter training season
11:27 ASCO took part in TransRussia-2019
11:00 ZIM joins to blockchain shipping solution TradeLens
10:44 Shareholders agreement on construction of Lavna terminal signed under Murmansk Transport Hub project
10:28 Brent Crude futures price is up 0.1% to $71.69, Light Sweet Crude – up 0.09% to $63.82
10:09 ABS teams with industry leaders to improve container vessel safety
09:53 Keppel secures integration and upgrading contracts worth around S$160 million
09:37 Tri-City ports take part in Seatrade Cruise Global
09:36 Bunker Market this morning, April 18
09:15 Baltic Dry Index is up to 767 points

2019 April 17

19:00 SMS Towage’s Humber fleet adds new tug
18:36 CMA CGM has announced FAK rates from Asia to North Africa
18:06 DESMI's CompactClean Ballast Water Management System receives US Coast Guard Type Approval
17:36 Denmark's first new-build hybrid ferry on key passenger route
17:06 CMA CGM announces FAK rates from Asia to the Mediterranean
16:38 Matson receives new cranes at its Honolulu hub terminal
16:17 Stena Europe undergoes refit upgrades in Turkey